eToro’s Crypto Exchange eToroX Adds Dash, USDC, USDt, And Five New Stablecoins For Trading
Digital asset platform, eToroX makes waves with the addition of five new fiat stablecoins, a crypto-asset, two other well-established stablecoins and a crypto-commodity pair to name a few.
BIG NEWS– 5 new stablecoins+USDC, USDT & Dash have been added to our exchange. The icing on the cake; the much anticipated GOLDX/BTC pairing has been added! This amounts to a substantial 30% increase & a total of 26 tradable assets on the #eToroX exchange.https://t.co/dSJrCA4Vs7
— eToroX (@eTorox) November 12, 2019
1) Fiat Stablecoins & Crypto Asset
As per the announcement, the five stablecoins include the Turkish Lira (TRYX), Polish Zloty (PLNX), South African Rand (ZARX), Hong Kong Dollar (HKDX) and the Singapore Dollar (SGDX). And the established stablecoins that users will have access to? Both Circle’s USDC and Tether’s USDT. Finally, the crypto asset included is none other than Dash.
The Managing Director at eToroX, Doron Rosenblum shared some of the reasons for making a ginormous list of assets available as of November 12, 2019. Rosenblum mentioned that both USDC and USDT are crucial for “the professional and institutional-grade Algo Traders.” The remainder is representative of the team’s contribution in closing the gap between blockchain and society’s traditional markets.
2) Gold Stablecoin
But wait, there’s more! All asset additions aside comes one that users are surely to have never guessed. As per the team at eToroX, they’ve since made GoldX available, which is gold tokenized as a stablecoin.
Rosenblum highlighted that,
“Our Gold/Bitcoin pair is providing access to trade between the old and new stores of value, making Gold/BTC an extremely special and interesting combination.”
3) 96 New Trading Pairs
All that said, trading pairs have also increased by 30 percent, which reflects 96 newly added pairs since April 2019. This is supposedly just the beginning, as users can anticipate more in the near future.
Assia Talks About Creating a Balance Between Different Groups
In an interview with news outlet, Decrypt, the CEO of eToroX, Yoni Assia spoke the moves made, along with his sentiments regarding the crypto market:
“We’re going to take eToroX and focus on the more crypto-savvy community [while] tak[ing] eToro as a platform and keep on drumming to the bigger audience of regular people who want to simply trade and invest in global markets.”
CEO Remains Bullish And is Hopeful of Upward Movement?
In addition to sharing eToroX’s plans, Assia expressed he is bullish simply because of the “usability as well as price,” of Bitcoin, adding that there’s more exposure of cryptocurrencies than ever before, more adoption and products.
As for whether or not another rally is crucial for the survival of the market, the CEO noted that consistency is key and as long as this is achieved, the crypto industry will be healthy. More specifically:
“I think that if we see every year like this year – crypto going up 50%, 40% – that’s the healthiest thing […] Ten years of steady growth would be much healthier for crypto than another rally.”
Embrace Volatility and Be Responsible at the Same Time
Given how much volatility users have been exposed to since the existence of cryptocurrencies, Assia urges individuals to embrace it, but expressed caution when it comes to putting all the eggs in one basket:
“People at this stage need to be responsible. I wouldn’t recommend for someone to take more than 10% of his available assets and put them in crypto.”