eToro expands its list of cryptocurrencies; Enables trading of EOS 6996
Analysis
Varun
Apr 24, 2018 at 1:27 PM

eToro, one of the leading trading networks, plans on increasing its cryptocurrency base. The company announced that it has enabled the trading of EOS, the digital currency that intends to support more efficient operations for decentralized applications than existing platforms such as Ethereum.

Until now, eToro supported the transactions of cryptocurrencies such as Bitcoin, Ethereum, Bitcoin Cash, XRP, Litecoin, Ethereum Classic, Dash, Stellar and NEO. With the introduction of EOS, the number of tokens available for trade has increased to 10.

eToro has been known for offering crypto CFDs (Contract For Difference) to users within its community. It also acts as a custodian and holds the tokens on behalf of its clients.

In addition to the clients’ ability to purchase actual EOS tokens, the coin will also be implemented on eToro’s Crypto CopyFund, which promotes the diversification of crypto holdings through the use of CFDs. EOS has been performing exceptionally well over the past few days. It has seen an increase in value of over 16% in just the past 24 hours.

Yoni Assia, Co-founder, and CEO at eToro, said:

“Already in 2018, we’ve seen attention shift away from mainstream cryptocurrencies and their market share is increasing all the time. In our view, this trend is only set to continue. We are constantly seeking to identify and assess new concepts as they emerge and we are committed to bringing the best crypto assets onto our platform for our users to invest in. We’re excited to have brought EOS onto the platform already this year and we look forward to seeing how the market develops in 2018 following a very successful 2017 for the crypto community.”

According to the data on Coinmarketcap, the newest member of the crypto family has soared more than 50% in the last one month, which could possibly be due to more user adoption. Now that the company has started transactions of EOS (EOS/USD pairing), these numbers are bound to go higher in the coming days.

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