Social investment network eToro announced today that it now includes crypto assets Chainlink (LINK) and Uniswap (UNI) as official product offerings on its exchange, setting its list of offerings to 18 cryptocurrencies to date.
The announcement was confirmed through a LinkedIn post by eToro Vice President of Business Solutions Doron Rosenblum. To date, the following cryptocurrencies are available on the platform: Bitcoin (BTC), ETH (Ethereum), BCH (Bitcoin Cash), Ripple (XRP), Dash (DASH), Litecoin (LTC), Ethereum Classic (ETC), Cardano (ADA), IOTA (MIOTA), Stellar (XLM), EOS, NEO, Tron Foundation’s (TRX), Zcash (ZEC), Binance Coin (BNB), Tezos (XTZ), and now Chainlink and Uniswap.
It is important to note, however, that XRP and BNB, however, are not available to U.S. clients, pending regulatory restrictions on these two cryptocurrencies. According to an official press release from the company, the move was in line with its strategy to bolster its crypto offering for both retail and professional clients, amid a perceived surge in demand.
“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. Chainlink is an important project that aims to overlay internet data with information stored on the blockchain and Uniswap is a critical part of the crypto trading infrastructure,” shared Rosenblum.
Established in 2007, eToro currently has 20 million registered users across the world, enabling its users to buy, sell, and hold crypto on its social investment network through fiat currencies. eToro began providing crypto to its retail clients in 2013 and has since grown the portfolio of cryptocurrencies available on its platform. Per its press release, it is disclosed that eToro is currently regulated in Europe by the Cyprus Securities and Exchange Commission (CSEC), by the Financial Conduct Authority (FCA) in the UK and by the Australian Securities and Investments Commission (ASIC) in Australia.
Chainlink’s native token, LINK, was the first ever protocol to create a secure bridge between dApps and databases outside the blockchain. With Chainlink’s “oracles” it is able to verify whether a piece of information has been falsified, repeated maliciously, or manipulated to appear differently. With a market capitalization of about $15.3 billion, it currently ranks 12th among the biggest cryptocurrencies, based on market cap.
Uniswap, which is currently the largest decentralized exchange in operation by trading volume, operates with UNI, its governance token. The platform facilitates automated trades of all its listed ERC-20 tokens, insofar as they have liquidity between counterparties with the use of smart contracts built on top of the Ethereum blockchain. UNI has a market cap that’s a bit higher than Chainlink at $16.7 billion, placing it as the 11th rank on the crypto ladder board by market cap.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
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