Giant Crypto Exchange Lists Most Popular DeFi Assets Like Uniswap (UNI)
Cryptocurrency exchange Gemini has doubled decentralized finance with a new token group.US based cryptocurrency exchange; Including top DeFi assets such as Uniswap (UNI) and Yearn.finance (YFI); It announced that it has added 15 new decentralized finance (Defi) tokens to its structure today.
1/2 Today, we have added new support for 15❗️additional #DeFi tokens. We believe in the potential of DeFi and are here to help usher in this next wave of growth and financial innovation for the world.
— Gemini (@Gemini) September 25, 2020
From today on, Balancer (BAL), Curve (CRV), Ren Network (REN), Synthetix Network (SNX), Uma (UMA), Uniswap (UNI) and Yearn.finance (YFI) will be supported both for trading and for storage. Bitcoin billionaire twins made the announcement.
“With these new token additions, we now offer trade and custody support for a total of 24 cryptocurrency assets, and custody support for 10 more cryptocurrencies,” said Gemini.
The UNI token, launched by the Ethereum-based decentralized exchange Uniswap, was launched a week ago and has become one of Defi’s most distributed tokens. Just a day after its launch, Ethereum, locked in Uniswap, rose to $ 1.6 billion.
Also, YFI, the management token of the yield farm protocol Yearn.finance, recently reached $ 38,682, almost four times the Bitcoin price ($ 11,596 at the time). The asset thus nearly doubled Bitcoin’s all-time high of about $ 20,000.
Five other tokens that were previously supported exclusively for storage in Gemini are now available for trading: Decentraland (MANA), Kyber Network (KNC), Maker (MKR), Storj (STORJ), and 0x (ZRX).
Finally, the exchange added three completely new DeFi tokens to its custody service – Keep Network (KEEP), Wrapped Bitcoin (wBTC), and tBTC (tBTC) – (not for trading).
However, there are concerns about supporting DeFi assets. Cryptocurrency exchange Binance makes it clear to its users that they can lose 50% or more of the value of any token they trade. Still, cryptocurrency exchanges think it’s worth the risk.