Bitrue, a leading digital asset exchange, is gearing up to add HBOT to its list of supported tokens on February 20. HBOT is the native token of Hummingbot, an open-source crypto algorithmic trading system.
This upcoming listing marks HBOT’s debut on a centralized exchange (CEX), a move expected to bring significant growth and vitality to the Hummingbot community.
Launched in April 2019, Hummingbot provides a platform for building high-frequency market-making and algorithmic trading bots in the cryptocurrency market. The project aims to democratize trading by making advanced strategies and technology accessible to all traders, regardless of technical expertise. Through intuitive software, users can create, customize, and monetize automated trading bots, leveraging a command-line interface (CLI) and optimized performance with Cython technology. Market-making strategies are also available, enabling traders to provide liquidity through bots to enhance their trading activities.
A recent governance proposal within the Hummingbot community led to the decision to list HBOT on a centralized exchange to improve liquidity. The proposal recommended Bitrue as the exchange of choice due to its reputable track record, high trust score on CoinGecko, and ranking among the top 25 spot digital asset trading platforms. Notably, CoinMarketCap ranks Bitrue as the sixth-largest crypto exchange by 24-hour spot trading volume as of January 24, 2024.
With unanimous approval from the community, HBOT is poised for listing on Bitrue’s platform, accompanied by a campaign to engage and incentivize participation among its user base. The campaign includes a BTR vote campaign with $2,000 worth of HBOT rewards and a staking campaign offering $8,000 worth of HBOT rewards to further stimulate interest. The Hummingbot Foundation is funding the $10,000 bounty.
Anchit Goel, Bitrue’s Head of Listings and Partnerships, expressed enthusiasm about the collaboration: “Hummingbot is democratizing access to high-frequency crypto market-making and algo-trading through an open-source framework and user-friendly software. Bitrue is glad to help the team get closer to fulfilling this mission by listing HBOT on the exchange. This will increase accessibility to a much broader audience and encourage more traders and LPs to join Hummingbot’s ecosystem. I expect HBOT’s Bitrue listing to greatly benefit the Hummingbot community through a more diversified user base, a significant growth in trading activity, and enhanced liquidity.”
