European-based cryptocurrency exchange HitBTC became the first exchange supporting the Useless Ethereum Token on Monday, July 3rd of this past week. HitBTC announced that UET had been added to the list of tradeable currencies, presenting the new UET/ETH market.
UET founder rethought an approach to ICO projects and has created a defiant “useless” token with “no whitepapers, no products, and no experts” and no common information that is vital to building trust in an investment. Nowadays, there are over 300 of ICO projects in the world. The total amount of funds is estimated in billions of dollars and it is still growing. Despite the deliberate frivolity of UET ICO, people caught up this hype and have started trading.
The token sale for UET started on July 4th and will go until July 11th, so far it has miraculously raised 236.880 Ether from contributors.
Ultimately, the choice of market players dictates which product will be successful and which will not. That is why it is very important to understand new trends.
Paul Clarkson, the product manager at HitBTC, says:
“HitBTC is interested in adding new promising cryptocurrencies to its trading instruments. We choose thoroughly all coins we list and there is always a particular reason for listing a specific cryptocurrency. In the case of UET, we ran an experiment and met with success as UET purchase orders have already reached 11.84886277 ETH 一 over $3,000 in 2 days. UET provides food for thought about what will be valuable tomorrow.”
HitBTC is an innovative multi-currency exchange with high liquidity, low fees and no limits for depositing or withdrawing cryptocurrency. The platform has been operating since 2013 and it is still growing and gaining popularity rapidly. Daily trading volume on the exchange has currently been topping over $30m. Moreover, the exchange recently overtook Poloniex and Bittrex to become the number one market for $STRAT, the Stratis Platform native asset.
Useless Ethereum Token is an alternative decentralized digital currency which started out as a joke and quickly developed into a fully functional token. UET tests the hypothesis that it is possible to start a successful fundraising company without any specific idea behind it.