Singapore-based cryptocurrency exchange Pionex has partnered with Dash Next to integrate Dash trading pairs into the platform.
#Dash #Next partners with #Pionex and we’re thrilled to announce that Dash is listed as a first step in this partnership on Pionex! Now you can start the Dash Grid #Trading #Bot and #DCA with Dash trading pairs to USDT & BTC on https://t.co/NLlNLQz5uY. @Dashpay @DashpayNews pic.twitter.com/Lyn7Q4KZxD
— Dash Thailand (@DashinThailand) December 13, 2019
Announced last week, Dash will be available for trading against Bitcoin and Tether (USDT), including trading via Pionex’s five trading bots built into the exchange. These include grid-trading bots, which “involves placing buy and sell orders at regular intervals (“grids”) between a specified high and low price of a given asset” according to hackernoon. This allows traders to create a high and low range to trade within, called the “trading channel”, and thus profit from the market movements within that range. Pionex also makes DCA (Dollar Cost Averaging) bots available so users can automatically buy at specific intervals in the pursuit of averaging their purchase and sell price and thus mitigate extreme market movements.
According to coinpaprika, Pionex currently has over $47.3 million USD in reported volume.
Dash’s growing foothold in Asian markets
The Pionex integration further increases Dash’s presence in cryptocurrency markets in Asia. One year ago Singapore-based DigiFinex, a top global cryptocurrency exchange, added Dash, including InstantSend functionality for instant deposits. Asian exchange BigONE similarly added Dash earlier this year, with Singapore-based Dcoin also adding Dash the following month. Finally, Bibox integrated Dash InstantSend for deposits recently, adding another large player in the region with explicit InstantSend support. The Pionex addition further solidifies its position in the region.
Of special importance in the development of international markets is Dash’s InstantSend functionality, which allows deposits to be confirmed instantly on supporting exchanges. This has led to it being favored by cryptocurrency traders due to its fast speed (less than 2 second automatic InstantSend) and inexpensive transactions (less that a penny). These features are very import to traders attempting to make money off of quick arbitrage trades by moving money between multiple exchanges that have different sell and buy prices. Because of this, the various Dash-focused business development teams have targeted these traders in an attempt to not only increase overall adoption, but also improve liquidity and exchange price stability.