eToro today announced the addition of two more assets to its cryptocurrency basket: Chainlink (LINK) and Uniswap (UNI).
For the platform, this is the first approach with tokens directly linked to DeFi. LINK, in fact, is used as an oracle for dApps, to which it reports offchain data. UNI, on the other hand, is the token of Uniswap, one of the most widely used exchanges in decentralized finance. It boasts volumes of $30 billion as of January 2021.
eToro thus brings to 18 the number of cryptocurrencies it offers its users. On the platform in fact there are already:
- Bitcoin Cash,
- Ethereum Classic,
- XRP (not available in the US),
- BNB (not available in the US),
New cryptocurrencies coming to eToro
LINK and UNI are just two of the tokens that will be added by eToro later this year. More will be coming soon to expand the offering.
Doron Rosenblum, VP Business Solutions at eToro commented:
“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”.
In any case though, eToro urges its 20 million users to study the projects well before investing:
“As with all investing, we urge investors to do their research. Just as each stock has a business case, each crypto has a whitepaper where people can find out more about its use case. eToro has been offering its customers access to crypto in a safe way for over 8 years. We will continue to find ways to open up this sector to more people, including adding more tokens later this year”.