US-based Gemini just listed 15 DeFi tokens

By: Ali Raza
Ali Raza
Ali plays a key role in the cryptocurrency news team. He loves travelling during his spare time and enjoys… read more.
on Sep 26, 2020
  • US crypto exchange Gemini recently announced support for 14 new DeFi tokens.
  • Three new tokens received custody support, while the rest of them were made available for trading.
  • Meanwhile, the DeFi sector continues to grow in a record-breaking expansion.

As the DeFi rise continues, numerous crypto exchanges around the world are rushing to list as many popular DeFi tokens as possible. This was already seen with Binance crypto exchange, and the exchange’s rush actually backfired after it listed SUSHI. Now, US-based Gemini has made a similar move, listing as many as 15 new tokens earlier today.

15 new coins join Gemini

According to a recent announcement, Gemini has added Uniswap’s newly-launched UNI token, as well as 14 other DeFi coins. The announcement added that the exchange believes in the potential of DeFi, and that it wishes to help usher the new wave of growth and financial innovation.

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Apart from UNI, Gemini also listed Balancer (BAL), Curve (CRV), Ren Network (REN), Synthetix Network (SNX), Uma (UMA), and (YFI). The exchange also made available for trading some coins that were only supported for custody previously, including Decentraland (MANA), Maker (MKR), Kyber Network (KNC), Ox (ZRX), and Storj (STORJ).

Lastly, it added three new tokens which are currently only supported for custody, including Wrapped Bitcoin (wBTC), Keep Network (KEEP), and tBTC (tBTC).

In total, Gemini now allows trading and custody services for a total of 24 tokens, while 10 tokens are only supported for custody.

The move also made Gemini the first regulated platform that offers trading and custody in the State of New York for a number of DeFi, including BAL, KNC, CRV, MKR, SNX, REN, STORJ, UNI, UMA, YFI, AND ZRX.

Uniswap and — the stars of DeFi sector

Of all the listed coins, Uniswap is likely one of the most successful ones. Despite its very recent launch, the token became one of the most widely distributed DeFi coins.

In fact, data shows that, within only 24 hours from the moment of launch, the amount of Ethereum locked in the Uniswap protocol skyrocketed to $1.6 billion, making it the leading token of the DeFi sector. Another highly successful token that was listed is, a yield farming protocol, whose token YFI recently reached the price of $38,682 per coin, which is almost four times the price of BTC.

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