XSwap’s EURS:FXD-Dollar Pair Dominates Cryptocurrency Trading

In an unprecedented turn of events within the cryptocurrency trading sphere, XSwap’s EURS:FXD-Dollar trading pair has taken the market by storm, now accounting for a staggering 75% of the total trading volume for the EURS token. This development has left Curve’s EURS:USDT pair lagging significantly behind, contributing to a mere 0.01% of EURS’s total trade volume, according to the latest data from CoinMarketCap.

A key driver behind this shift appears to be the near-zero transaction fees on the XDC Network, which has significantly attracted arbitrators away from other Layer 1 chains like ethereum, known for their high gas fees. This cost-efficiency on the XDC Network is rapidly becoming a magnet for traders looking for more profitable and efficient trading opportunities.

(Screenshot from Coinmarketcap)

The Rise of EURS:FXD-Dollar Pair on XSwap DEX

The EURS token, a popular stablecoin pegged to the Euro, has seen varying interest levels across different platforms. However, the recent surge in its pairing with Fathom Dollar FXD on XSwap DEX signals a notable shift in trader preference and market dynamics. Analysts suggest that this surge is primarily driven by a wave of forex traders moving into the cryptocurrency space, seeking to capitalize on the arbitrage opportunities presented by the EURS:FXD pair.

WeFi recently introduced a forex perpetual leverage trading protocol on the XDC network, offering a new dimension of efficiency and affordability in forex trading that may lead to the recent surge in volume on EURS : FXD trading on XSwap surpassing the USDT trading volume for EURS. WeFi provides competitive interest rates of 2–3% annually for going long on EURS, contrasting with high charges of 60–80% by other forex exchanges. Going short on EURS incurs zero interest.

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How Does Leverage Trading Work on WeFi?

  1. On WeFi Leverage Vaults the “EURS : FXD” Token Vault, traders can see various details like current Price, Borrow Rewards, Available Liquidity, and more details about the vault.

  2. Traders can enter the amount of FXD tokens they wish to invest, select leverage from 1.1X to 20X, and after reviewing the final downpayment and borrow amount, click on the “Invest” button and approve the amount in the wallet.

  3. To supply, click on the “Supply to Vault” button and confirm the transaction in the wallet.

  4. Tokens have been successfully supplied to the vault. The position can be seen under “ACTIVE INVESTMENTS” and assets can be sold anytime from there.

Trading Opportunities on WeFi and XSwap

The detailed steps have been explained by WeFi, and its AMM-based model ensures transparent and fair pricing. The two-party system of lenders and traders promotes a cooperative environment, and on-chain trading via Xswap eliminates intermediaries, enhancing security and directness. WeFi stands out by allowing users full control over their tokens, avoiding custody risks, and offering the flexibility of perpetual trades without set expiration times. Additionally, its competitive interest rates, significantly lower than those of traditional forex exchanges, further establish WeFi as a forward-thinking choice in the forex trading sector.

Traders have a unique opportunity to profit from the EURS:FXD trading pair due to the stable valuation of both currencies against their fiat counterparts. Since 1 EURS is equivalent to 1 euro, and 1 FXD is pegged to 1 USD, traders can leverage the slight discrepancies in exchange rates between different trading platforms to execute profitable arbitrage trades.

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XSwap and WeFi have capitalized on this trend on the platform front. The platform’s intuitive interface and robust trading mechanisms have made it a preferred choice for traders looking to engage with this lucrative pair.

Traders and platforms alike are keenly observing these trends, adapting their strategies to capitalize on the dynamic opportunities presented by the digital asset market. The platform is poised to capitalize on this momentum, with the internet abuzz over XSwap and WeFi’s latest achievement. As it continues to break barriers and set new records, the combination of WeFi and XSwap is solidifying its position as a leading force in the DeFi space.

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.


### News source: cryptodaily.co.uk

By Team