Bittrex Global will launch its own exchange token

by in Cryptocurrency News

Bittrex token

The European division of the American Bitcoin exchange Bittrex announced the upcoming launch of its own exchange token.

Related: Bittrex Global: trading in pairs with euro with 0 commission

According to a short Twitter post, the listing of the Bittrex Global exchange token will take place in June.

The Liechtenstein-based exchange does not provide additional details. Nevertheless, in response to one of the comments, representatives of the platform specified that the token will not be available to US residents.

The Block draws attention to the fact that over the past year, Bittrex's market share has been steadily declining. At the moment, it is only 1%, although, at the beginning of 2019, this figure was more than 3.5%.

Head of Research at The Block, Larry Cermak, noted that both Bittrex and Poloniex explain the loss of their positions with regulatory issues in the United States. However, he believes that although this partially plays a role, the loss of the market was more likely a consequence of incompetence and increased competition.