After its official launch in February of this year, Overbit.com (Overbit), a Seychelles-based cryptocurrency and foreign exchange (forex) trading platform announced this Thursday that it has expanded its offering by adding seven cryptocurrency contracts denominated in the United States dollar.
As of today, clients of the trading platform are now able to trade the following contracts: ADA/USD (Cardano), BCH/USD (Bitcoin Cash), EOS/USD (EOS), ETH/USD (Ethereum), LTC/USD (Litecoin), NEO/USD (NEO), and XRP/USD (Ripple).
According to CoinMarketCap, the top five virtual currencies in terms of market cap are Bitcoin, Ethereum, XRP, Bitcoin Cash and Litecoin, with BTC far outranking the other virtual currencies with a market cap of $212,502,189,143 as of the time of publishing. The next best is Ethereum, with a market cap of $24,183,936,966.
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Commenting on the development, Chieh Liu, founder and Chief Executive Officer (CEO) of Overbit said: “We are obsessed with client feedback and we are always looking to improve the Overbit platform.”
“Many clients have expressed to us that it’s difficult to convert prices already known in USD to XBT. For example, today Ripple (XRP) is trading at $0.31 USD, but in Bitcoin this is expressed as 0.000026 XBT. We are confident with the addition of USD pairs, traders will be better placed to react to market movements.”
Overbit launches in February 2019
As Finance Magnates previously reported, Overbit went live back at the beginning of this year. According to the statement released at the time, Overbit was the first platform to facilitate the trading of both cryptocurrencies and foreign exchange, by using Bitcoin as the underlying asset.
Overall, the Seychelles-based platform facilitates users to buy and sell virtual currencies, currencies, global indices, gold, and silver. The aim of the platform is to increase the liquidity of cryptocurrencies, which in turn will attract new traders to the sector.