The volume increase is driven by the launch of EQONEX’s first native exchange token, EQONEX Origin (EQO) and a significant increase in participation by a number of major institutional clients. Following the launch of the token on April 8, EQONEX has recorded daily volumes in excess of US$100 million.
Since launch, EQONEX has evolved from a spot only exchange, launching Bitcoin Perpetuals in January 2021, followed by ETH Perpetuals and additional coins last month, before launching EQO in April.
Richard Byworth, CEO at EQONEX, said: “The explosive growth on the exchange validates the roadmap that we have been building over the past couple of years. We are building a company for the long term that is focused on providing a viable solution for institutions to access this burgeoning new asset class. This is just the start.”
Jakob Palmstierna, Partner at GSR, a strategic investor and one of the key market makers on EQONEX, stated that the “volume growth on EQONEX has been rapid when compared to trading activity across the wider market”. GSR is integrated on over 60 cryptocurrency exchanges.
Global Head of Sales Trading Matt Blom went live with The Birb Nest to discuss the EQONEX vision for crypto, and the power and potential of its exchange token EQO. Watch the AMA, where he discusses our institutional grade technology, EQO, the upcoming EQO Dollars airdrop, and more!
While today is a day of celebration, we’d also like to take the opportunity to reflect on some of our successes over the last year.
MATIC, the native token of the Polygon platform, has been one of the best-performing coins of 2021, with an overall increase in value of over 12,000%. What's more, the price spike isn't a result of speculative capital at play, rather an increase in adoption by Polygon's core users.