- Gemini has added seven new tokens for buying and selling on its cryptocurrency trade.
- Enjin Coin and The Sandbox’s SAND are among the many new gaming-centric tokens out there.
Cryptocurrency trade Gemini has expanded its roster of supported tokens for buying and selling at the moment, adding seven new tokens together with these with use instances within the decentralized finance ( ), Web3 infrastructure, and gaming and non-fungible token ( ) worlds.
Right this moment’s new additions embody DeFi-related tokens for 1inch Trade (1INCH) and Bancor (BNT), blockchain infrastructure tokens for SKALE (SKALE), The Graph (GRT), and Loopring (LRC), and gaming-centric tokens Enjin Coin (ENJ) and The Sandbox’s in-game SAND foreign money. Gemini beforehand supported custody on ENJ and has now added buying and selling, as effectively, whereas the opposite six tokens are totally new to the trade.
The Ethereum-based Enjin Coin has seen a dramatic value enhance in latest weeks as a part of an general rise in demand for gaming-related tokens pushed by the surge of curiosity in collectible NFTs. In accordance with DappRadar, February alone saw $342 million in trading volume for NFTs throughout the highest three NFT marketplaces. That sum consists of in-game gadgets, collectibles, and crypto paintings, and blockchain-based video games reminiscent of Sorare and Axie Infinity have seen hovering gross sales of in-game property.
Enjin Coin’s value has soared 269% within the final 30 days to $2.26 as of this writing, in line with CoinGecko. Enjin’s gaming platform permits sport builders to implement the advantages of blockchains and NFTs—reminiscent of verifiable possession of digital property and cross-game asset compatibility— and final month Enjin launched an educational web game with Microsoft that unlocked NFTs to be used within the massively well-liked sport, Minecraft.
The Sandbox is one other sport that has been using the NFT collectibles wave in 2021. Animoca Manufacturers’ open-world creation sport sold more than $3 million in virtual LAND properties in February alone, and its SAND in-game foreign money has surged some 90% in worth during the last 30 days in line with CoinGecko.
1inch Exchange is a decentralized trade aggregator that routinely picks out the perfect costs from listed DEXs, and it airdropped $84 million worth of 1INCH tokens to Uniswap customers in February as a advertising and marketing push. The 1INCH token’s value is largely unchanged from one month ago. Bancor, an on-chain, Ethereum-based liquidity protocol for swapping tokens, has seen its token value rise 45% over the last 30 days.
SKALE, a Web3 platform for Ethereum decentralized app (dapp) improvement, is backed by Gemini co-founders Tyler and Cameron Winklevoss. The Graph is equally a protocol for dapp improvement on Ethereum and IPFS (InterPlanetary File System), whereas Loopring is a layer-2 scaling and funds answer for Ethereum dapps centered on decentralized trade creation.
Right this moment’s additions elevate the variety of tokens and cryptocurrencies that Gemini trades to 33 in complete, with one other 10 supported for custodial providers.