Bybit Exchange lists Magic Square’s SQR token for spot trading.
Bybit announced its decision to list SQR on its trading platform. Bybit is one of the popular cryptocurrency exchanges. After listing, users can trade with SQR through the Spot Grid bot. SQR is the primary governance token used by Magic Square, a Web3 platform focused on discovery and participation in promising projects. The platform hosts a variety of Web3 projects and apps that users can find in one place. Basically, developers register their projects in the Magic Store operated by Magic Square.
Magic Square boasts backers from some of the world’s most famous and influential investors. These include Binance Labs, KuCoin Labs, Republic Capital, Gate.io, Huobi Ventures, IQ Protocol, Crypto.com, Forty Two, Alpha Grep, Kyber Network, Banx, deBridge, Chainlink, etc.
There will be a target pool At Bybit
The announcement of SQR’s Bybit spot listing was made via the exchange’s Twitter/X. In the announcement, Bybit hinted that users who show up early for listing on the platform will get free SQR tokens. This means there will be a target pool shared between SQR holders using Bybit Exchange.
The listing countdown will end at exactly 10:00 AM (UTC) on January 11, 2024, when the listing takes place. Judging by the community’s response, it seems like a lot of people are excited about this list.
How is Magic Square doing?
Before the listing was announced, Magic Square decided to make a $1 million public sale to DAO Maker. The offering attracted a total of $22 million in deposits within the first 24 hours, and DAO Maker invested an additional $2 million, bringing the total to $24 million in 24 hours. More than 9,722 users have already pledged to deposit money into Magic Square.
Why is this list important?
As the token was listed on popular exchanges, it began to receive more attention in the industry. In most cases, demand increases and prices surge accordingly. A listing on Bybit could lead to more exposure and make the token attractive to be listed on other exchanges. Time will tell.
Source: https://www.cryptopolitan.com/bybit-listing-magic-squares-sqr-token/
