An Ethereum-based altcoin has outperformed a lot of the crypto markets during the last week because the founders of bankrupt hedge fund Three Arrows Capital (3AC) gear as much as launch their very own trade.
FLEX Coin (FLEX) is the native token of CoinFLEX, a crypto trade that has not too long ago undergone restructuring and is ready to have its property acquired by OPNX, an trade launched by 3AC founders Su Zhu and Kyle Davies.
OPNX goals to be the primary crypto trade that enables for the buying and selling of chapter claims whereas additionally offering commonplace spot and futures buying and selling merchandise.
Says OPNX’s web site,
“Over $20B of claims are trapped within the chapter proceedings of FTX, Voyager, Celsius, Genesis, BlockFi, Hodlnaut, Mt Gox, 3AC, and different companies.
Because of the complexity and stress of the scenario, over 90% of these affected have but to register their claims. Settlements are prone to take a few years and, in lots of instances, will not be paid out. In consequence, most have given up hope of recovering their losses.
OPNX solves this by offering a public market for buying and selling claims and crypto. It permits people and organizations to simply register their claims, promote them straight into crypto on orderbooks, or use their declare as portfolio margin. This allows claimants to effectively unlock billions of {dollars} of trapped capital.”
As OPNX is ready to amass CoinFLEX’s property, FLEX token has been slated to be the brand new native crypto asset for OPNX when it launches. On March twenty sixth, FLEX was listed on SushiSwap, one of many largest decentralized exchanges (DEXes) on Ethereum.
Instantly after the itemizing, FLEX erupted almost 60% from $1.94 to $3.10 in a matter of hours. Over the past week, FLEX is up 76%, at present buying and selling for $2.68 at time of writing.
Do not Miss a Beat – Subscribe to get crypto e mail alerts delivered on to your inbox
Test Worth Motion
Observe us on Twitter, Fb and Telegram
Surf The Each day Hodl Combine
 
Disclaimer: Opinions expressed at The Each day Hodl aren’t funding recommendation. Buyers ought to do their due diligence earlier than making any high-risk investments in Bitcoin, cryptocurrency or digital property. Please be suggested that your transfers and trades are at your personal danger, and any loses you could incur are your duty. The Each day Hodl doesn’t advocate the shopping for or promoting of any cryptocurrencies or digital property, neither is The Each day Hodl an funding advisor. Please observe that The Each day Hodl participates in internet affiliate marketing.
Featured Picture: Shutterstock/tflow4e/StockStyle
