What is Adax?
ADAX stands for Arab Digital Asset Exchange. It’s a cryptocurrency trading platform based in Dubai, United Arab Emirates and powered by Arabitzor Holdings, and it’s one of the leading exchanges in the Middle East.
The company aims to provide market technology tools, such as their online trading platform, for a rather extended list of digital assets from all around the planet. The company seems to believe that demand for cryptocurrency can only go up in the future and it wants to be one of the leading players when it happens.
Adax boasts the most advanced virtual trading room in the Arab world which is designed to enhance the user’s trading experience and, according to the company, it’s based on blockchain technology so it could be decentralized, but don’t quote us on that.
It’s no surprise at all that an advanced crypto exchange should be based in Dubai. After all, over recent years the city has become one of the world’s foremost financial hubs. That being said, developments in crypto that originate in the Middle East rarely get noticed compared to things that happen in, say, Asia or Europe.
Nevertheless, Adax is there, and it’s a player. With all the money that is always floating around that geopolitical zone, it’s merely a matter of time before the trading volume becomes enormous. And now there’s an additional reason for that.
Tron’s Tronix (TRX) joins the Adax platform
A couple of days ago, Adax announced the inclusion of Tron’s Tronix (TRX) cryptocurrency in its platform. The token will be available in three trading pairs: TRX/USDT, TRX/BTC, and TRX/ETH. The company’s official Twitter announcement was particularly enthusiastic, calling TRX one of the “leading digital assets listed.”
Tron’s leadership (headed by Justin Sun, the project’s founder and CEO) has been very consistent in getting TRX listed in many of the world’s most important cryptocurrency exchanges, which is very good for the project.
The more platforms that offer TRX trading pairs to customers, the easier it is to get ahold of some of Tron’s coins and join the endless fun that the Tron network offers, especially now that it’s become the world’s busiest decentralized applications network. And that will be nothing when, finally, the BitTorrent network is merged with Tron’s network and blockchain.
There’s another advantage for TRX (or any other digital asset) in being listed in as many exchanges as possible, and that is trade volume. In crypto, as well as in Forex, the stock market or the commodities market, higher trading volumes support the asset’s prize by creating additional demand thus strengthening its fundamentals.
And strong fundamentals are the only way in which cryptocurrencies will stop being slaves to sheer speculative forces. Just as important, strong fundamentals will be one of the exit doors from the current crypto winter, which has lasted for more than 15 months so far.
And Tron has an additional advantage: it has a very bullish community which is very interested in supporting the token. Many Tron-based projects are issuing their own tokens which are based in Tron’s token technologies and are tradeable for TRX, and they all have clear use cases within the Tron network from gambling and having some fun to paying for advertising.
Tron keeps growing. The token’s price hasn’t been precisely peachy over the last few days, but keep an eye out for it anyway. Tron is a useful project with clear aims and, sooner or later, the token’s price will reflect that.
Image courtesy of Pixabay.
Disclaimer: The presented information is subjected to market condition and may include the very own opinion of the author. Please do your ‘very own’ market research before making any investment in cryptocurrencies. Neither the writer nor the publication (TronWeekly.com) holds any responsibility for your financial loss.