eToro adds 3 new cryptocurrencies: Fetch.ai, Synthetix, and Ren Protocol
Trading platform eToro announced it will be adding three new crypto assets to the investment platform: Fetch.ai (FET), Synthetix (SNX), and REN Protocol (REN). As of right now, FET and REN are trading at $0.459 respectively, $5 and saw gains of 2% respectively of which 1% in the last 24 hours. REN is trading for $0.422 and lost 3% of its value today. With the introduction of these three new assets, the platform offers over 2,000 different financial assets including stocks, crypto and ETFs.
Fetch.ai focusses on artificial intelligence
Fetch.ai (FET) is a blockchain protocol focused on artificial intelligence (AI) and building an open-access machine learning network. The aim of the project is to enable smart infrastructure built around a decentralized digital economy. The technology helps users automate a range of tasks in DeFi, such as withdrawing liquidity from pools on DeFi exchanges such as Uniswap. Token holders can vote on updates to the system and also use it to power their own Fetch programs.
Ren allows for traders to connect to decentralized applications
Ren (Ren Redes Energeticas Nacionas) connects traders and decentralized applications on various blockchain networks. Ren Redes Energeticas Nacionas runs on a dark node network and transactions are done privately between exchanges to minimize the impact of front running by traders. REN tokens are used to provide electricity to the network and are required to run a dark node.
Synthetix allows for own synthetic asset creation
Synthetix (SNX) is a platform that allows users to create their own synthetic assets via blockchain. The technology allows users to create synthetic tokens for physical assets such as currencies, stocks, commodities and cryptos. Investors can use SNX for decentralized oracles that detect the value of crypto assets and create synthetic assets on the Ethereum network.
“Last year, we saw that the rise of decentralized financing sparked the interest of more and more people and investors are turning to new cryptos. While the start of the year has been volatile, we expect DeFi to grow in 2022,” comments Tomer Niv, Director of Global Crypto Solutions at eToro. “eToro stands for giving investors choice and we are excited to continue expanding the crypto offering. This gives investors the opportunity to diversify their portfolios.”
Since 2013, eToro offered private customers access to the crypto markets and has since gained 20 million users worldwide. The platform allows users to easily buy, hold and sell assets such as Fetch.ai (FET), Ren (Ren Redes Energeticas Nacionas) and Synthetix (SNX) on the investment platform using fiat currency.
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