eToro’s platform has added four new tokens: Cosmos (ATOM), The Graph (GRT), Curve (CRV) and 1inch (1INCH).
Cosmos ecosystem added to eToro
There are now a total of 36 crypto-assets available on the platform.
Cosmos is a blockchain ecosystem based on the ATOM cryptocurrency, which rewards investors through transaction fees and other forms of remuneration such as staking.
GRT is the token behind The Graph indexing protocol designed to organise data on the blockchain and make it more easily accessible to users. Users of The Graph must own GRT tokens to use it, as this ensures the integrity of the data through cryptography. In return they earn a share of the network’s fees.
CRV is the token of the Ethereum-based DEX Curve, while 1INCH is the token of the DEX of the same name that aggregates liquidity and offers the best possible rate for a whole range of blockchain-based token swaps. Token holders can participate in the governance of the network and the further development of the exchanges.
The price of ATOM has gained 5% in the last week, but is still 16% lower than a month ago. It is worth noting, however, that the all-time high price was reached on September 20 and has gained 483% in recent months.
GRT gained 13% this week, but is down 7.6% from a month ago. However, it is still well below the all-time high of February, as the current level is 72% lower.
The case of CRV and the 1INCH parabola
More curious is the case of CRV, which has gained 4% in the last week, but is 2% lower than a month ago.
Its all-time high price was in August 2020, during the mini-bubble surrounding the DeFi tokens, and since then it has lost as much as 95% of its value, without ever coming back. It is worth noting, however, that the peak was simply the initial price recorded on the first day of trading, and that ten days later it had already fallen to more or less its current levels.
The parabola of 1INCH is more normal. In the last week it has gained 23%, and the price is also 14% higher than a month ago.
The absolute peak was reached in May, more or less at the same time as ETH, and since then it has practically halved.
VP Business Solutions at eToro, Doron Rosenblum, said:
“Crypto is going from strength to strength at the moment as the market grows and new ideas and tokens reach prominence. We see ever-growing interest from retail investors on our platform who believe in the long-term potential of such projects. We are determined to keep updating our offering to users to help 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”.