First two in a series of tokens to be added this year on eToro
UNI is eToro’s first token in decentralised finance trading infrastructure
eToro, the world’s leading social investment network, today announces it has added Chainlink (LINK) and Uniswap (UNI) to its crypto offering, bringing the total number of tokens that people can invest in on eToro to 18*. The move comes as eToro looks to bolster its crypto offering for both retail and professional clients in the coming months.
LINK is the native token of Chainlink, which was the first protocol to create a secure bridge between information within decentralised applications (d’apps) and information outside of the blockchain. Through its network of oracles it determines if information has been falsified or manipulated. It is currently the 12th biggest crypto with a market value of over $16 billion[1].
UNI is a governance token for the Uniswap decentralized exchange built on the Ethereum blockchain. Uniswap facilitates automatic trading of any ERC token where there is liquidity between unknown counterparties, using smart contracts. Unlike centralised exchanges, it does not require an order book. Trading volume on the exchange reportedly hit over $30 billion in January 2021[2]. UNI has a market cap of over $16 billion and is the 11th biggest cryptoasset according to CoinMarketCap.
Doron Rosenblum, VP of Business Solutions at eToro, said: “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.
“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.”
eToro has been offering retail clients access to crypto markets since 2013. eToro’s 20 million registered users globally can easily buy, hold and sell the real underlying assets of both LINK and UNI on it’s investment platform, using fiat currency.**
*16 coins for US clients.
**Cryptoassets are available to clients of eToro AUS Capital Pty Ltd on a CFD basis only
About eToro:
eToro is a multi-asset investment platform that empowers people to grow their knowledge and wealth as part of a global community of successful investors. eToro was founded in 2007 with the vision of opening up the global markets so that everyone can trade and invest in a simple and transparent way. Today, eToro is a global community of more than 20 million registered users who share their investment strategies; and anyone can follow the approaches of those who have been the most successful. Due to the simplicity of the platform users can easily buy, hold and sell assets, monitor their portfolio in real time, and transact whenever they want.
Disclaimer:
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eToro USA LLC; Investments are subject to market risk, including the possible loss of principal.
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[1] Source: https://coinmarketcap.com/
[2] Source: https://www.theblockcrypto.com/linked/93211/dex-uniswap-monthly-volume-january
