Social Trading Platform, eToro US, Adds Chainlink (LINK) & Uniswap (UNI) For Trading
Social investment platform, eToro adds Chainlink (LINK), a decentralized oracle network, and Uniswap (UNI), a decentralized exchange token to its platform bringing the total number of cryptocurrencies to 18. The two tokens join Bitcoin (BTC), Ether (ETH), Litecoin (LTC), and Tezos (XTZ) on the eToro trading platform.
Chainlink ($LINK) and Uniswap ($UNI) are now available for trading on eToro!
— eToro US (@eToroUS) April 19, 2021
This move marks eToro’s involvement in the booming decentralized finance (DeFi), which has grown to over $55 billion in total locked value (TVL), according to DeFi Pulse. Uniswap currently places as the third-largest DeFi protocol on DeFi Pulse with $5.65 billion locked on the DEX while LINK's ubiquitous nature sets it apart from every decentralized oracle in the industry.
Despite lagging behind in listing cryptocurrencies, Doron Rosenblum, VP of Business Solutions at eToro, believes “now is the right time to add tokens” as investor appetite for cryptos reaches fever pitch.
“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.”
eToro has seen magnificent growth since launching its first crypto products in 2013. In its plans to expand, the company is planning to go public through a merger with special purpose acquisition company (SPAC) FinTech Acquisition Corp. in a $10.4 billion valuation deal. The company boasts of 20 million customers across the world enjoying zero-commission trading o crypto.
Rosenblum further stated the social trading app is looking forward to adding more cryptocurrencies across the year.
“We will continue to find ways to open up this sector to more people, including adding more tokens later this year.”