Bitpanda has expanded its portfolio of ERC20 tokens by unrolling general support for the Ethereum-based technical standard. However, Bitpanda has warned it would only support separate tokens, slowly adding selected well-researched projects.
https://twitter.com/bitpanda/status/1024235745630928896
The announcement came on the heels of the addition of OmiseGo (OMG), the first ERC20 token with a high profile and a solid project. The move has been expected since the start of July and puts the Austrian exchange ahead of Coinbase, which is still in the planning stages of adding ERC20 tokens.
However, the Bitpanda listing did little to lift the fortunes of OMG, which sank by another 9% overnight to dive below the $6 mark. OMG slid to $5.95 as the market turned downwards again after a couple of weeks of recovery.
!OMG!
The addition of this type of digital assets also underscores the fact that no trouble has been spotted by European regulators. Bitpanda is fully authorized to offer banking services and use the common European banking area, and there have been no limitations as to the addition of new digital assets.
ERC20 projects have attracted attention after Coinbase signaled intention to research assets like Basic Attention (BAT (LON:BATS)). Tokens have grown numerous, but a handful of them are still quite valuable and have been in demand by potential investors and traders. ERC20 tokens offer the largest variety of use cases, with some being a utility and others potentially considered securities. There is also a variety of economies and referral schemes that are fueled, or set to be fueled, by ERC20 tokens.
Prominent ERC20 tokens have a marked advantage in terms of market capitalization, and OMG is among the leaders based on pricing. Some of the top 20 tokens by market capitalization have already seen increased interest, among them Zilliqa (ZIL), Augur (REP), and Ontology (ONT).
Some of those listed as Ethereum-based may migrate, for example, ZIL and ONT, but others are intended to remain connected to the Ethereum network.
Neither the author nor the publication assumes any responsibility or liability for any investments, profits, or losses made as a result of this information. Cryptocurrency trading and investing are risky propositions, and market participants are advised to always conduct thorough research.
This article appeared first on Cryptovest
