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New crypto assets on eToro: Maker (MKR) and Enjin (ENJ)
New crypto assets on eToro: Maker (MKR) and Enjin (ENJ)
Blockchain

New crypto assets on eToro: Maker (MKR) and Enjin (ENJ)

By Stefania Stimolo - 26 Jul 2021

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Multi-asset investment platform eToro has announced that it has added two new crypto assets: Maker (MKR) and Enjin (ENJ)

To date, the total number of crypto assets offered on eToro is 28, including the latest Algorand (ALGO), Basic Attention Token (BAT) and Polygon (MATIC) added just last month. Among the cryptocurrencies already present are Chainlink, Dogecoin, Uniswap, Aave, Compound, Yearn.Finance and Decentraland.

eToro explains that the choice has to do with the growing market for decentralized finance (DeFi) for MKR and Non-Fungible Tokens (NFTs) for ENJ. 

Maker, a governance token, represents a support for the DAI token. In fact, Maker holders are able to govern and respond to the demand for DAI and are part of a decentralized autonomous organization.

Enjin, for its part, plays an important role in the NFT world through the gaming industry. In this regard, eToro describes the relationship between the two by stating that players are able to invest in NFTs from their favourite games and transfer those perks to future games. With the Enjin token, the value of an NFT is driven by the popularity of the hottest items and titles in the gaming world.

New crypto assets: also ENJ and MKR on eToro

Although the trading platform eToro was founded in 2007, the crypto asset offering has only taken off since 2013. 

As of today, eToro has 20 million registered users worldwide who share their investment strategies, so anyone can follow the approaches of those who have been most successful with trading. 

Speaking of ENJ and MKR, Doron Rosenblum, VP of Business Solutions at eToro, said:

“The addition of these two coins continues our commitment to offer our users more opportunity to diversify their portfolios with a broader range of cryptoassets. We will continue to expand our range of cryptoassets with more coins coming soon. As always, we urge investors to do their research. All cryptoassets have whitepapers which detail their use case. We strongly encourage our users to be cautious and remember that when investing, it is wise to diversify and only invest in markets and instruments with which you are familiar”.

Meanwhile, both crypto assets have seen a pump in their price over the past 24 hours, following today’s general bullish market trend, led by its queen bitcoin.

Specifically, ENJ has over 1 billion in market capitalization, placing it in 69th place. MKR, on the other hand, with over 2.5 billion market cap is placed 37th today, while its price, after a month, is back to touch $2.740.   

Stefania Stimolo
Stefania Stimolo

Graduated in Marketing and Communication, Stefania is an explorer of innovative opportunities. She started out as a Sales Assistant for e-commerce, and in 2016 she began to develop a passion for the digital world, initially in the Network Marketing sector, where she discovered and became passionate about the ideals behind Bitcoin and Blockchain technology, which lead her to work as a copywriter and translator for ICO projects and blogs, and organize introductory courses.

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