The Katowice, Poland-based Bitcoin and Litecoin trading platform has included one more cryptocurrency. The company has recently announced the inclusion of Ethereum as a tradable asset in a press release.
The rise of Ethereum, a crypto platform built specially for smart contracts and decentralized applications has also led to the increase in the value of Ether, the crypto token used for transactions on Ethereum platform. The increased demand for ether has led to a drastic rise in its value. this has led more and more people to start investing in ether as a tradable asset. Currently, Ethereum stands as the second largest cryptocurrency after bitcoin. It has effectively dislodged Litecoin from the spot it had maintained for years.
Increasing interest among traders to trade Ethereum has led to many exchanges catering to bitcoin traders to include Ethereum as an additional option. Most of these exchanges have done so after receiving numerous requests from their users. Considering the current situation, the recent announcement by BitBay doesn’t come as a surprise.
With the introduction of Ethereum, BitBay users can now trade four currency pairs – ETH/PLN, ETH/BTC, ETH/EUR and ETH/USD. Even though there are not many platforms offering Ethereum at the moment, it is bound to increase in the coming months.
Last month, two largest bitcoin exchanges in their respective countries, Coincheck of Japan and KorBit of South Korea announced the inclusion of Ethereum into their platforms. Even Bitfinex included Ethereum support in the month of March. By doing the same, BitBay has now made a place for itself in the growing list of Ethereum trading platforms.
While the outlook for Ethereum as a tradable crypto asset looks promising at the moment, whether it will continue to sustain the peak or not is something that has to be seen.