Digital assets exchange platform, eToro, has announced the addition of new crypto offerings in Chainlink (LINK) and Uniswap (UNI)
The social trading platform, eToro, yesterday confirmed it had added Chainlink and Uniswap to its list of offered tokens. The overall crypto market has seen tremendous growth in the last few months, and eToro has been keen to capitalise on it. The online-based trading platforms explained that the decision to list the two tokens was driven by the growing appetite among investors.
The tokens will be available as part of the tradable crypto tokens the platform offers to its users. eToro currently boasts of a huge customer base of over 20 million users across the world. The addition of Chainlink and Uniswap brings the total number of digital assets offered to 18 except for the US market, which has 16 coins. US-based customers have no access to Ripple’s native XRP and Binance Coin.
Speaking about the development, eToro’s VP Doron Rosenblum said, “Now is the right time to be adding new cryptos to eToro. We have seen an explosion in retail investor appetite for the asset class and strong demand to invest across a greater range of tokens. Both LINK and UNI have interesting use cases and remind us that not all cryptos are designed to be currencies.”
UNI, the native crypto and governance token of the Ethereum-based protocol Uniswap, currently sits at fifth place in the list of the biggest DeFi protocols by total value locked. It has a TVL figure of $7.36 billion, according to DeFi Llama. Chainlink, on the other hand, is a tokenised oracle network that uses LINK as its native asset. LINK has a total market capital of over $14 billion and is 13th among the largest crypto assets by market cap on Coingecko.
He described Chainlink as “an important project that aims to overlay internet data with information stored on the blockchain” and labelled Uniswap as a crucial asset in the cryptocurrency trading niche.
The introduction of these new tokens comes just days after the leading US crypto exchange Coinbase got listed on NASDAQ, giving the impression the sector is still growing. Remarks from eToro’s VP of Business Solutions, Doron Rosenblum, back the postulation as he acknowledged that investors had shifted their focus to other crypto tokens.
eToro users will now be able to trade or hold the two assets on the platform as they previously did with others. The platform also hinted that it had plans to introduce more assets with time.