Gemini goes all bad with DeFi tokens



Gemini goes all bad with DeFi tokens

Gemini goes all bad with DeFi tokens

  • Gemini officially joins the race to support the DeFi market

  • In addition to new tokens for trading, the list of assets supported for storage has been increased

  • Support for DeFi tokens comes despite a major market correction

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The Winklevoss brothers’ cryptocurrency exchange announced large-scale support for the decentralized finance market tokens, adding 10 new coins to the listing at once.

Winklevoss brothers crypto exchange Gemini has added over ten new decentralized finance market tokens to the listing (DeFiDecentralized finance (DeFi) is a financial services built on blockchain technology that offer users access to an open, efficient and … More). The company announced this on its official website..

Gemini goes all bad with DeFi tokens

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The following DeFi assets appear as new tokens for trading:

  • Balancer (BAL);
  • Curve (CRV);
  • Ren Network (REN);
  • Synthetix Network (SNX);
  • Uma (UMA);
  • Uniswap (UNI);
  • Gemini goes all bad with DeFi tokens
  • Yearn.finance (YFI).

Also, as part of the expansion of support for the DeFi ecosystem, Gemini will open trading for tokens that were previously only available for trust: Decentraland (MANA), Kyber Network (KNC), Maker (MKR), Storj (STORJ) and 0x (ZRX).

“We are proud to be the first regulated platform to offer trading and storage of [DeFi] tokens in New York State,” the exchange said..

In addition to expanding support for tradable tokens, the list of assets for trust in Gemini has also been increased. It was replenished with Keep Network (KEEP), Wrapped Bitcoin (wBTC) and tBTC (tBTC) tokens.

Despite skepticism

This is not the first Gemini initiative to embrace the DeFi market. Earlier, the editorial staff of BeInCrypto reported that according to the founder of the exchange Tyler Winklevoss in the cryptocurrency market, “the DeFi revolution is coming.” In support of this, Tyler has announced support for the first few decentralized finance tokens Paxos Standard (PAXG), AMP Token (AMP) and Compound (COMP)..

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The active promotion of DeFi is taking place despite a significant correction of the market, whose capitalization has recently collapsed from $ 11.9 billion to $ 9.7 billion. Many investors have already become victims of the “massacre on the DeFi market”, who have sued the exchanges over the listing of assets that collapsed almost 100% in price.

At the time of this writing, the capitalization of the decentralized finance market is $ 10.4 billion.The largest DeFi token in terms of capitalization remains a clone of Bitcoin in the Ethereum network – Wrapped Bitcoin (WBTC) with $ 892.4 million of invested capital.

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