If you are seeking to list on exchanges like BitMart, it might also be good timing to understand that you might need some help from an experienced third party. A party, that partners with trading platforms and can guide you through often an uneasy listing process. An entity, that can advise you where to list first and tailor a strategic listing plan for your token project.
Empirica offers token projects support in planning their listings. We will guide you step by step in launching your markets and making them liquid from day one.
Facts about BitMart exchange
According to publicly available information, BitMart is a global centralized cryptocurrency exchange that allows users in 180+ countries to buy and sell hundreds of digital currencies. The company was founded in 2017 and has since grown into a high-volume cryptocurrency platform, currently servicing over 9 million customers worldwide. BitMart is one of the largest exchanges by volume, ranked in the top 20 crypto exchanges in the world, according to CoinGecko.
Why list on BitMart
BitMart is one of the most frequently chosen digital asset exchanges for token projects’ first listings. There are a couple of reasons why.
Listing on mainstream cryptocurrency platforms may be a huge financial burden for a project – it may cost up to 1 mln USD. However, BitMart is known in the crypto industry for its rather affordable listing fees. And that makes many token projects decide to sign the listing agreement with BitMart first.
BitMart’s declared user base (9 mln+) allows projects to attract the attention of crypto investors when they share the news about the listing partnership with the platform.
At the moment of writing the article (2022), CoinGecko allows the trading of more than 669 tokens that are listed on the platform, with new assets added every quarter. This means that the platform’s strategy is to list many startup token projects, which increases the chance of a successful listing.
BitMart’s score metrics
When choosing a venue for listing, it is important to check its reputation and general rank in comparison to other exchanges. A good choice is to check how CoinGecko, CoinMarketCap and Nomics rate the exchange.
CoinGecko uses Trust Score, a rating algorithm evaluating the legitimacy of an exchange’s trading volume. Trust Score is calculated on a range of metrics such as liquidity, scale of operations, cybersecurity score, and more. BitMart’s Trust Score is 8. Only 10% out of more than 500 cryptocurrency platforms have Trust Score 8 or higher.
CoinMarketCap’s Exchange Score is based on the following factors:
- Web Traffic
- Average Liquidity & Volume
- the Confidence that the volume reported by an exchange is legitimate. Weights are assigned to the above-mentioned factors and a score from 0.0 to 10.0 is given to the Spot Exchange.
BitMart’s Exchange Score is 5.6.
Nomics’ metric is called Impact Score – and represents an exchange’s influence on the price of assets it trades. The score is a combination of web traffic, volume, and other factors.
BitMart’s Impact Score is 6.94.
Listing on Bitmart with our help
We can help you list your token and manage liquidity on BitMart and other exchanges. The usual process looks like this:
- We set up a call to understand the phase of your project. The following points will be discussed:
- Are you already listed on DEXes or CEXes?
- What is the tokenomy of your project?
- Do you have a listing strategy for your token?
- We discuss the best possible liquidity strategy for your project.
- If we agree to set up a partnership, we introduce you to verified managers of one or more exchanges (listing support).
- After your project gets listed on an exchange, we help you build your markets on platforms.
Why do I need a market maker?
Managing a token startup is a real challenge. As a cryptocurrency project, you need to focus on building your products and services and leave liquidity to market makers.
A market maker will help you:
- deepen the liquidity on your token’s books and make them more stable – which helps mitigate wide price fluctuations of your coin
- lower spreads between bids and asks so that the prices get fairer for investors; that reduces the cost of entering and exiting positions and encourages investors to trade your coin
In the 24/7 cryptocurrency markets, well-managed assets are supported by algorithmic market makers. They provide liquidity through their market-making services, supported by fully automated software algorithms. Empirica’s liquidity products are reputable top-notch algorithmic market making solutions.
SCHEDULE AN APPOINTMENT WITH US TO DISCUSS THE LISTINGS AND BUILDING THE LIQUIDITY OF YOUR MARKETS
WHERE IS BITMART LOCATED?
BitMart is a cryptocurrency exchange based in the Cayman Islands. It also has offices located in New York, Greater China, Seoul, and Hong Kong.
WHAT IS A CENTRALIZED EXCHANGE (CEX)?
It is a digital asset marketplace using a similar business model to traditional asset platforms like stock exchanges.
Centralized crypto venues typically keep limit order books, which are lists of open buy and sell orders, consisting of volumes and prices. They match up buyers and sellers and announce current market prices based on the last price an asset sells for.
WHAT IS TOKEN LIQUIDITY?
This term refers to the ease with which tokens can be swapped for other assets (other crypto assets or government-issued fiat currencies).
WHO ARE MARKET MAKERS?
A market maker is a company or individual that regularly buys and sells financial assets at a publicly quoted price to provide liquidity to the financial or digital asset markets. Their role is to satisfy market demand. Market making is also used as a profit generation trading strategy by hedge funds.
WHAT ARE THE BEST EXCHANGES TO BE LISTED ON?
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