Crypto exchange BitMEX said it has postponed the listing of its native token BMEX due to unfavorable market conditions.
In a heir spot exchange has to do with current unfavorable market conditions.
"The reason is quite simple. Although we are ready to list BMEX, the present market conditions are not ideal, and we want to list the token in an environment that gives it the best chance to reward you, its holders. For such an important launch, timing is just as important as any other factor."
The post went on to say that it's encouraging to see that BMEX has widespread support. "We've airdropped millions of tokens to thousands of users over the past few months just for doing what they do best: trading."
Both current user base and a sizable number of new people have thrown their support to the exchange. Thousands of traders are already making use of BMEX's basic functionality by staking to get benefits including fee reductions and reimbursements on withdrawals. The owners of this token are enthusiastic, engaged, loud, and passionate.
In the meantime, BitMEX are still airdropping the token to their traders and new joiners. The company believes more time to accrue means more BMEX for our users to earn.
Bear markets are not easy according to BitMEX. They have seen their share over the years and stayed strong, even with Bitcoin at much lower levels.
Owners of the crypto exchange said as they look to the future, listing BMEX on their spot exchange remains their top priority and they hope to celebrate the milestone with users.
The majority of BMEX will be used to reward users and expand the BitMEX ecosystem; a 20% allocation is set aside for BitMEX employees; and a 25% allocation is set aside for our long-term commitment to the token and ecosystem, according to the company's FAQ. "BMEX will have a maximum supply of 450 million tokens, vested over a period of up to 5 years," it said.
Holders of BMEX tokens can receive savings on trading costs of up to 15% as well as exclusive deals on the derivatives and spot market. Additionally, coin holders will have the chance to stake their coins and profit. Early access to new products, participation in initial exchange offers (IEOs), VIP events, and merchandising are further benefits.
The majority of BMEX will be used to reward users and expand the BitMEX ecosystem; a 20% allocation is set aside for BitMEX employees; and a 25% allocation is set aside for our long-term commitment to the token and ecosystem, according to the company's FAQ. "BMEX will have a maximum supply of 450 million tokens, vested over a period of up to 5 years," it said.
Holders of BMEX tokens can receive savings on trading costs of up to 15% as well as exclusive deals on the derivatives and spot market. Additionally, coin holders will have the chance to stake their coins and profit. Early access to new products, participation in initial exchange offers (IEOs), VIP events, and merchandising are further benefits.