Moving on Up
In the last month, Polymath has seen its native token picked up by multiple exchanges. As a result, the token will gain huge amounts of exposure. This bodes well for the future of the asset, as tokens related to the digital securities sector gain in popularity.
While Polymath, as a company, functions to facilitate growth within the digital securities sector, their native token, POLY, function as a utility. Companies utilizing services on the Polymath platform, make use of POLY tokens as a form of fuel/transaction payment.
It is this POLY token that cryptocurrency exchanges actively trade.
Exchanges saying, Welcome!
Both Bithumb and Poloniex have opened their doors to the token. It is important to note – Polymath did not pay for these listings.
In a point of contention over 2018, certain exchanges will list questionable projects if paid an exorbitant listing fee. These particular listing were not achieved in this manner. Polymath, and the strength of the digital securities sector as a whole, led to the project being picked up.
To date, Polymath finds themselves listed on 21 various exchanges. While reported trading volumes can often be manipulated, roughly 60% of Polymath traded occurs on the following exchanges:
While each listing led to a temporary boost in price, these gains could not be sustained. Despite this, Polymath has been on a slow burn, finding itself rising the ranks over the past few months. Today, Polymath finds itself firmly entrenched within the top 100 projects (on CoinMarketCap).
Polymath is based out of California, and was founded in 2017. Since inception, Polymath has gone on to be one of the companies most synonymous with digital securities.
Above all, Polymath works to provide the services needed for companies to launch their own security tokens. The company remains flexible in their offerings, through the use of multiple variants of the ERC-1140 token standard – each variant being tailored towards a specific sector.
Bithumb is based out of South Korea, and was founded in 2014. In the time since inception, Bithumb has become a mainstay within the world of blockchain. To date, it remains one of the most popular exchanges within a leading world market.
The company made waves in early 2018 when conglomerate, ‘Circle’, purchased the exchange for a sum of $400 million USD. In the time since acquisition, Poloniex has expanded services, while honing issues that users lambasted during the boom of 2017.
While their ranking by volume has seen them drop to the 56th largest exchange – at time of writing – Poloniex remains one of the most well known in the industry.