eToro lists CELO as it continues expanding its crypto offering

By: Jinia Shawdagor
Jinia Shawdagor
Jinia is a cryptocurrency and blockchain enthusiast based in Sweden. She loves everything positive, travelling, and extracting joy and… read more.
on Dec 1, 2021
  • eToro listed CELO because of the coin’s potential to simplify settlements between mobile users.
  • eToro now supports 41 tokens, including leading cryptos like BTC, ETH, and BCH.
  • Before listing CELO, eToro announced that it would delist ADA and TRX for US users.

Israeli crypto exchange eToro has listed CELO as part of its ongoing commitment to expanding the number of digital assets it supports. The exchange announced this news yesterday, noting that it listed the coin because it simplifies settlements between mobile users across the globe. However, this coin will not be available for US users.

According to the announcement, CELO holders can vote on multiple initiatives, including making CELO a carbon-neutral blockchain. CELO’s listing comes after eToro listed SushiSwap (SUSHI), Quant (QNT/USD), Chiliz (CHZ/USD), and Axie Infinity (AXS/USD) on November 9. Like CELO, these tokens are not available for US-based eToro users.

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With these additions, eToro now supports a total of 41 tokens. With the exception of the five above coins, the platform has listed Bitcoin (BTC/USD), Ethereum (ETH/USD), Bitcoin Cash (BCH/USD), Litecoin (LTC/USD), Ripple (XRP/USD), Cardano (ADA/USD), and Tron (TRX/USD), among others.

As is the norm with the crypto market, CELO’s price jumped following eToro’s listing. Yesterday, the token opened trading at $5.03 (£3.77) and traded as high as $5.27 (£3.95) before closing at $5.16 (£3.87). At the time of writing, CELO is $5.10 (£3.82) after losing 2.41% over the past 24 hours.

CELO is currently the 77th-largest crypto by capitalization with a market cap of $1,870,947,879.00 (£1,402,827,364.93).

eToro to delist ADA and TRX for US users

While the eToro platform currently supports 41 tokens, this number is set to reduce for US users as we head in 2022. The exchange announced that it would delist ADA and TRX for US users. In doing so, the exchange will bar users from opening new positions in the two coins. This change will take effect on December 26, according to eToro.

ADA and TRX staking will end on December 31, and stakers will not get staking rewards after the exchange pays the January 15, 2023 reward. However, eToro will allow ADA and TRX holders to keep their tokens on its platform. eToro stressed that these changes are only preventing US users from opening new positions, adding that it is not forcing anyone to exit their positions.

Explaining why it plans to delist ADA and TRX for US clients, eToro said the changes come after business considerations in the evolving regulatory environment. The news of delisting ADA came as a surprise to holders, considering Cardano has not had any regulatory problems in the US.

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