Huobi Lists OmiseGO and Raiden Network in BTC and ETH Markets
Chinese crypto exchange Huobi has listed OmiseGO and Raiden Network tokens in BTC and ETH markets.
Huobi, the Chinese cryptocurrency exchange, yesterday announced the listing of OmiseGO (OMG) tokens, with the OMG/BTC and OMG/ETH pairs. Deposits where opened yesterday, at 06:00 GMT, while trading started today, November 14, at the same time.
The 14th ranked exchange, in terms of trading volume, also offered rewards on OMG deposits, and currently, traders can enjoy free trading till 06:00 GMT, tomorrow, November 15 2017.
The OmiseGO network is an ambitious project aimed at allowing the unbanked population of the world to take part in value exchanges and financial dealings. The goal here is to facilitate decentralized, cross-border, peer-to-peer transactions using blockchain technology, but that’s not all.
The OmiseGO blockchain will utilize the Ethereum mainnet and the platform will serve as a currency-agnostic exchange, connecting cryptocurrency wallets and traditional financial transactions such as remittances, supply-chain finance, customer loyalty programs and even payrolls. In this way, the network will allow developing economics in the world to seamlessly make online payments using any type of currency – fiat or crypto – with the minimum possible conversion fees.
The OMG token has value because it is staked to get the right to validate activity on the OmiseGO blockchain. Validators earn from the network’s transaction fees, and any invalid activity results in tokens being burned.
Currently, the OmiseGO token is trading at $7.50, down from its early September high of around $13. On Huobi, the OMG/BTC pair has a volume of $1,526,510 while the OMG/ETH pair is at $332,147.
Today, Huobi also listed Raiden Network (RDN), which is a project aimed at building an infrastructure layer on top of the Ethereum platform and allowing off-chain scaling for faster transactions and lower fees.
Trading for Raiden Network will begin tomorrow, at 06:00 GMT, with RDN/BTC and RDN/ETH pairs.