If you are seeking to list on exchanges like Bittrex, 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 Bittrex Global exchange
The centralized cryptocurrency exchange Bittrex was founded in 2014 and is registered in the US.
The exchange fully legally operates in the US as its activity is compliant with the regulations that are in force in different states of the country. Moreover, Bittrex is compliant with the laws in a number of EU countries.
Listing on Bittrex Global
The crypto exchange is open to welcoming new coins on board. To join the platform, a team behind a token project interested in the listing should fill in an online form where it is necessary to provide detailed information on the coin.
Bittrex allows the listing of projects that are built on any of the most popular blockchains, such as Ethereum, Ripple, Hedera, Stellar, Tezos, Tron, Klaytn, Solana, or on their own blockchain.
On its official website, Bittrex has a clear step-by-step description of the listing process. The platform provides full-scale support to new coins.
The pre-listing stage includes assistance in pushing a project through the listing procedure. With relevant support, it can take just 2 weeks. The next stage is a listing rollout. The international community of the exchange will be informed about the upcoming listing so that they won’t miss this event.
At the post-listing stage, Bittrex promises marketing support and promotion of the listed coins via its media channels.
At the moment, the platform offers 476 coins that are available in 932 pairs.
Bittrex’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, the scale of operations, cybersecurity score, and more. Bittrex’s Trust Score is 8. Only 10% out of more than 500 cryptocurrency platforms have Trust Score of 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.
Bittrex’s Exchange Score is 5.4.
Nomics’ metric is called Impact Score – and represents an exchange’s influence on the price of cryptocurrencies it trades. The score is a combination of web traffic, volume, and other factors.
Bittrex’s Impact Score is 5.86.
The second Nomics metric, called Transparency Rating is B (good). Nomics explains the purpose of these scores as rating cryptocurrency exchanges by their willingness to provide auditable history.
CryptoCompare has established the notion of Top-Tier volume whereby investors can segment the market into higher and lower-risk volumes (A is the best and E is the worst grade).
Here’s the current CyptoCompare’s classification of Bittrex in comparison with other exchanges:
Listing on Bittrex with our help
We can help you prepare for listing your token and managing liquidity on Bittrex 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 the 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.
Successful token listing during bear market
Listing is more than just negotiating fees with an exchange and successful listings require active involvement of a market maker. We know how to go through this process smoothly. Today’s listing requires a comprehensive approach, and our services include extensive support in this area.
We are partnering with a web3 gaming startup that introduced a product with solid fundamentals and a clear use case. We supported token debuts on chosen centralized exchanges by providing initial deep liquidity for substantial trades from the first seconds it went public. Our role was to support token debut on three centralized exchanges as the only market maker responsible for listings.
The price increased up to 250% within the first week after listing, and remains stable after the first month. Since the listing, volumes have begun to rise significantly, reflecting a healthy market and good trading conditions (see the Price and Volume chart).
Learn more about our offering with sample case studies from our most successful projects-> here.
SCHEDULE AN APPOINTMENT WITH US TO DISCUSS THE LISTINGS AND BUILDING THE LIQUIDITY OF YOUR MARKETS
WHERE IS BITTREX LOCATED?
The exchange is registered in Seattle, US, and also has its office in Vaduz, Liechtenstein.
WHAT IS BITTREX’S DAILY TRADING VOLUME?
According to the data provided by Coingecko, as of September 30, 2022, the Bittrex daily volume is around $20 million.
IN WHAT COUNTRIES IS BITTREX AVAILABLE?
The exchange is available to traders in different regions of the world with the exception of just a couple of countries, such as Cuba, Iran, North Korea, Syria, and the Crimean peninsula.
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 cryptocurrencies (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.