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eToro Adds Uniswap and Chainlink to Its Investment Network

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by Oluwapelumi Adejumo · 3 min read
eToro Adds Uniswap and Chainlink to Its Investment Network
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Uniswap and Chainlink are the first two coins to be added to the eToro platform this year.

Today, crypto brokerage firm eToro announced that it would be adding two new tokens to the 16 tokens already offered on their cryptocurrency investment platform. The two tokens chosen by eToro, Uniswap (UNI) and Chainlink (LINK), are among the top fifteen largest cryptocurrencies on the market. Their addition to the eToro’smarket is aimed not only at bolstering its market offerings and satisfying clientele demand but also to demonstrate a commitment to the rapidly growing Ethereum space.

Chainlink, a decentralized oracle service, is the first protocol to secure a bridge between smart contracts and information on Decentralized applications (Dapps) and data from the real world outside of a blockchain. It uses a network of decentralized oracles to regulate data and weed out bogus or malicious data. LINK, Chainlink’s token, currently has a market value of about $16 billion, making it the 12th largest digital asset on the market.

Uniswap, the decentralized exchange platform or DEX, was started by Hayden Adams to facilitate the trustless swapping of ERC-20 tokens on the Ethereum network, using an automated protocol whenever there is liquidity between unknown parties. Uniswap trading does not use the order book model, allowing the use of smart contracts to ensure its trustless swapping. The UNI, Uniswap’s governance token, has a trading volume of about $30 billion and a market cap of $16 billion; it is the 11thlargest digital asset on the market.

Uniswap and Chainlink are the first two coins to be added to eToro this year, joining a list that includes Bitcoin, Bitcoin Cash, Ethereum, Ethereum Classic, XRP, Dash, Litecoin, Neo, Stellar, EOS, Cardano, IOTA, BNB, ZCash, Tron and Tezos. However, investors living in the US should note that XRP and BNB arent available to them.

eToro is a multi-crypto asset social investment network, a crypto giant that took its baby steps in 2013. It offers its 20 million users a global community in which they can learn to trade, invest, follow shared trading strategies and other financial activities. The crypto asset manager isn’t resting on its laurels as it has announced several more planned developments in the nearest future.

eToro has come forward not only to announce a desire to add several more tokens to their platform over the coming months, which will no doubt benefit their public offering. The public offering comes alongside a merger with a Special Purpose Acquisition Company, or SPAC, called FinTech Acquisition Corp, in a deal worth $10 billion, backed by both SoftBank and Betsy Cohen, the banking entrepreneur.

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Oluwapelumi Adejumo

Oluwapelumi is a believer in the transformative power Bitcoin and Blockchain industry holds. He is interested in sharing knowledge and ideas. When he is not writing, he is looking to meet new people and trying out new things.

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