African cryptocurrency exchange, Quidax, may have made history as the trading platform reports to have raised $3 million worth of BNB tokens in the public sale of their $QDX native exchange token. This may indicate the region’s bullishness on digital assets, as this occured during the worst market selloff in 14 months.
On Monday, May 24th, Lekki, Nigeria housed cryptocurrency exchange operation, Quidax reported to have – in the public sale of the platform’s native $QDX token – raised more than $BNB 7,772 (+$3 million) during the weekend that the digital assets market was taking the worst thumping it had in about 14 months. Despite the big dog crypto asset – by market capitalization – shedding 30% of it’s heft over in the period preceding, and during, the exchange platform’s token dispersal activity.
The $QDX token sale forms part of Quidax’s shift in strategy, from continent-focused growth, to a more global view on its future. The African digital asset exchange platform – which boasts 400,000 users, dispersed across +70 international territories – annouexchange token sale on the 10th of May, this year, in light of the local authority, the Central Bank Of Nigeria’s (CBN) flip-flopping position on crypto asset Trading within the country.
The company recently reported having processed over $3.2 billion in transactions since inception in 2018. The $QDX token listed on Defi platform Julswap on Sunday, the 23rd. Quidax plans to release an entire Binance Blockchain based ecosystem, centered around the $QDX token, in the near future. With the QDX vault – a staking service for the $QDX token – being the first release.
In the platform’s plans, regarding the $QDX token, are also a – June scheduled – airdrop for $QDX and $JUL token holders, as well as a self-service listing platform for Binance Chain BEP20-based projects interested in listing on Quidax.
Upcoming big ticket listings on the Quidax crypto exchange platform are meme coin rivals, $DOGE and $SHIP, with the most notable – and telling of the platform’s global expansion intentions – $WSG the native token of smash blockchain game, Wall Street Games.
With imternational remittances being a growing lifeline for many Africans, and rapid currency devaluation and restrictive currency controls being the standard in many African nations the cryptocurrency demand that grows on the continent may be set to escalate. From a liquidity perspective, it may be a good move for the exchange to focus on attracting international customers.
