Native Token for New Crypto Exchange Launched by 3AC Founders Goes Parabolic After Being Listed on SushiSwap

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An Ethereum-based altcoin has outperformed many of the crypto markets during the last week because the founders of bankrupt hedge fund Three Arrows Capital (3AC) gear as much as launch their very own trade.

FLEX Coin (FLEX) is the native token of CoinFLEX, a crypto trade that has lately undergone restructuring and is ready to have its property acquired by OPNX, an trade launched by 3AC founders Su Zhu and Kyle Davies.

OPNX goals to be the primary crypto trade that permits for the buying and selling of chapter claims whereas additionally offering commonplace spot and futures buying and selling merchandise.

Says OPNX’s web site,

“Over $20B of claims are trapped within the chapter proceedings of FTX, Voyager, Celsius, Genesis, BlockFi, Hodlnaut, Mt Gox, 3AC, and different corporations.

Because of the complexity and stress of the scenario, over 90% of these affected have but to register their claims. Settlements are prone to take a few years and, in lots of circumstances, might not be paid out. Consequently, most have given up hope of recovering their losses.

OPNX solves this by offering a public market for buying and selling claims and crypto. It permits people and organizations to simply register their claims, promote them instantly into crypto on orderbooks, or use their declare as portfolio margin. This permits claimants to effectively unlock billions of {dollars} of trapped capital.”

As OPNX is ready to accumulate CoinFLEX’s property, FLEX token has been slated to be the brand new native crypto asset for OPNX when it launches. On March twenty sixth, FLEX was listed on SushiSwap, one of many greatest decentralized exchanges (DEXes) on Ethereum.

Instantly after the itemizing, FLEX erupted practically 60% from $1.94 to $3.10 in a matter of hours. Over the past week, FLEX is up 76%, at present buying and selling for $2.68 at time of writing.

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