Gemini Crypto Exchange Lists New DeFi and NFT Market-Based Tokens on its Platform
U.S.-based Gemini cryptocurrency exchange introduces seven new tokens to its trading and custody list.
- The Winklevoss-owned exchange focuses on integrating the booming decentralized finance (DeFi), non-fungible tokens (NFT), and infrastructure token markets on its ecosystem.
In a release on Monday, Gemini announced the listing of NFT-based The Sandbox (SAND) and Enjin Coin (ENJ); infrastructure tokens The Graph (GRT) and Skale (SKL) and DeFi tokens including Bancor (BNT), Loopring (LRC), and 1inch exchange token (1INCH).
Gemini will support custody services and the trading of each token listed. Enjin already enjoyed custody services on the platform. Users can deposit any of the six coins (except Enjin) and start directly trading using any of the fiat pairs available on the exchange, e.g., USD GBP, SGD, EUR, and AUD, etc.
The addition of these coins brings the total number of tradable cryptos to 33 tokens, and a further 10 cryptos are available for custody.
2/3 ❗️Deposits for these tokens are now open, and trading availability for all 7 tokens will soon follow, launching first on our API/FIX and our ActiveTrader™ platforms for $USD trading pairs.
— Gemini (@Gemini) March 22, 2021
The NYDIG-licensed crypto exchange aims to expand its markets to cover the booming DeFi and NFT market, a statement from the team reads. Over the past six months or so, the DeFi space and NFT markets have boomed as demand for these products skyrocketed past the roof. The report further reads,
“Our industry is constantly evolving with new projects that promise to redefine the boundaries of finance, gaming, and art and offer more financial independence.”
Enjin Coin has been a revelation for the past year as the NFT market boom came alive in 2021. The token has witnessed an almost 3000% increase in the past year to trade at $2.13 as of writing. Similarly, SAND has also ridden the NFT collectibles wave, having grown over 85% in the past month alone, according to Coingecko.
The report stated more crypto tokens would be added to Gemini in the coming months to boost crypto adoption globally.
The exchange has doubled the number of cryptocurrencies under custody in just two months in 2021 and has added an earning program available to over 20 supported cryptocurrencies.