Thu. May 23rd, 2024

Landmark Exchange Auction: CoinEx “Epic Sat” Now in Progress

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The fourth “epic sat,” mined earlier by ViaBTC, the third-largest mining pool in the world, is currently undergoing auction on the cryptocurrency exchange CoinEx. As the first-ever public auction of “epic sat” on an exchange, the auction commenced on April 23 at 00:00 (UTC+8). CoinEx users can place their bids instantly upon accessing the auction page, with a minimum bid of 1 BTC. 

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The auction will conclude on April 26 at 00:00 (UTC+8), and the highest bidder will have the opportunity to acquire this rare “epic sat” token. To participate in the auction, participants will need to have sufficient funds in the CoinEx spot account.

Only BTC bids are accepted in the auction. Upon receiving the bid, the system will deduct the BTC assets. In case of a higher bid, the assets will be immediately refunded, allowing participants to place a second bid. CoinEx will notify all participants of the results via in-site messages and e-mails.

The first satoshi (the smallest unit of a bitcoin) of each halving, which happens after 210,000 blocks, or approximately every four years, is known as the ‘epic sat’. There are only roughly 32 epic sats in all, making each one unique and noteworthy.

There are just four spectacular epic sats on the market right now, which makes each of them hold unique historical significance and scarcity within the Bitcoin ecosystem. Sotheby’s once auctioned a ‘rare sat’, which is less rare than an epic sat, and it was sold for a high price of 107,950 USD.

About CoinEx

Established in 2017, CoinEx is a global cryptocurrency exchange committed to making trading easier. The platform provides a range of services, including spot and margin trading, futures, swaps, automated market maker (AMM), and financial management services for over 5 million users across 200+ countries and regions.

With its “quality, speedy and comprehensive” listing strategies, CoinEx has listed over 900+ tokens and 1,400+ trading pairs. This extensive selection empowers users to access the newest cryptos at the forefront of innovation.

Since its establishment, CoinEx has steadfastly adhered to a “user-first” service principle. With the sincere intention of nurturing an equitable, respectful, and secure crypto trading environment, CoinEx enables individuals with varying levels of experience to effortlessly access the world of cryptocurrency by offering easy-to-use products.

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By Tony Chimdiuto

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