KEY TAKEAWAYS
- KuCoin lists Powerloom (POWER) on its Spot trading platform, with trading starting on January 10, 2025.
- Powerloom offers a composable data network for web3 applications, using $POWER as its native gas token.
- KuCoin provides various Trading Bots for the POWER/USDT pair, enhancing trading strategies.
- Investors are reminded of the inherent risks in cryptocurrency investments, despite KuCoin’s screening efforts.
KuCoin has announced the listing of Powerloom (POWER) on its Spot trading platform. The announcement, made here, details the schedule for deposits, trading, and withdrawals.
Deposits for Powerloom are effective immediately, supported on the Ethereum (ETH-ERC20) network. Trading is set to begin at 09:00 UTC on January 10, 2025, with the trading pair POWER/USDT. Withdrawals will be available from 10:00 UTC on January 11, 2025.
In addition to standard trading, KuCoin will offer Trading Bots for the POWER/USDT pair. These services include Spot Grid, Infinity Grid, DCA, Smart Rebalance, Spot Martingale, Spot Grid AI Plus, and AI Spot Trend. Users are advised to ensure they deposit only Ethereum (ERC20) tokens and avoid depositing mainnet tokens.
Understanding Powerloom and Its Ecosystem
Powerloom is a composable data network designed to provide next-generation web3 consumer applications and end-users with reliable and affordable access to precise, accurate, and verifiable on-chain data. The native token, $POWER, serves as the gas token within this ecosystem, facilitating various network activities such as Snapshotter operations and rewards.
For more information about Powerloom, interested parties can visit their website or view their whitepaper.
Risk Considerations for Investors
KuCoin has issued a risk warning, reminding investors that cryptocurrency investments carry risks similar to venture capital investments. The cryptocurrency market operates 24/7 without market close or open times, and investors are encouraged to conduct their own risk assessments. KuCoin attempts to screen all tokens before listing, but acknowledges that risks remain.
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