EToro

eToro Adds UNI and LINK to its Exchange

The Israel-based crypto trading platform, eToro, added that UNI (Uniswap) and LINK (Chainlink) to their exchange, making it the sixteenth coin it offers to investors. The latest announcement from the company suggests a boom in Ethereum’s decentralized space. In 2020, it has seen its value soar to $56 billion from $800 million.

The coins hold a solid position in the space. In the first month of 2021, the UNI token, launched in 2020, recorded its trading volumes surge to an impressive $36 billion. The governance token of the Uniswap exchange saw its market cap rise to a massive $16 billion – the eleventh highest digital asset.

On the other hand, LINK is the native token of the decentralized oracle provider, Chainlink. It is responsible for connecting the real-world data to the blockchains. As of now, LINK sits just behind the UNI in terms of market cap, and thanks to the users’ confidence, it emerged as the best performing crypto coin in 2020.

eToro’s Impressive Plan

Not only is the platform expanding its coin listing, but it also revealed that it is planning to add more crypto coins in the future. Besides that, the company also plans to go public, followed by a $10 billion merger with a purpose acquisition firm, FinTech Acquisition Corp. Interestingly, their deal is supported by the prominent banker Betsy Cohen and SoftBank.

Per the data provided by the company, its exchange as many as 20 million registered users. Over the last year, numerous experts have compared the platform with Robinhood – which made headlines amid the GameStop saga.

Although it is valued at $40 billion, it has seven million fewer users than the Tel-Aviv-based exchange. Plus, with the latest announcement, it is expected to benefit from the admirers of these tokens.

Total
0
Shares
Views and opinions expressed are solely those of the author and not of The DeChained or any affiliated party. Views or opinions expressed in this article (or any article on the website) are not financial advice. Articles are for informational purposes only. The author and The DeChained may hold positions in assets discussed in this or other articles.
Related Posts