The Gemini cryptocurrency exchange, which is quite selective about the listing of coins, opened its doors for two DeFi tokens at once.
The Decentralized Finance (DeFi) industry is attracting an increasing number of participants in the crypto space. Now the Gemini crypto exchange has shown interest in them, which, according to many, has always been very picky about the issue of listing coins on its platform. However, it was revealed on September 12 that Gemini is adding support for two DeFi tokens.
“The DeFi Revolution”
This was announced on Twitter by one of the co-founders of the exchange, Tyler Winklevoss. He announced that “the DeFi revolution is coming” and that Gemini is now starting to accept deposits in Paxos Standard (PAXG) stablecoins, as well as AMP and Compound (COMP) coins. In addition, Winklevoss announced that the exchange will open trading in these tokens starting September 15.
The crypto community on Twitter has overwhelmingly reacted positively to this news. Some started asking what Gemini’s plans are for listing other DeFi coins. So, for example, one user was interested in the ALGO listing.
This is not CryptoKitties for you
The Ethereum network is now experiencing a surge in activity like no other seen since the CryptoKitties hype. We can say that the boom in the DeFi segment began in June with the launch of the Compound (COMP) token, created on the basis of the Ethereum blockchain, which, along with AMP, has now been added to the Gemini listing.
Notably, Gemini’s decision to add support for two DeFi tokens came amid the SushiSwap scandal. Many feared that this story could seriously undermine the reputation of the DeFi segment. In any case, she taught the crypto market participants an important lesson, reminding that the DeFi industry is still very young and is still in the stage of running and experimenting.
Its main driver is still retail investors – as it was during the ICO fever in 2017/2018. Meanwhile, institutional investors still prefer to take a wait and see attitude, staying away from the excitement.
However, Gemini is not alone in its interest in DeFi tokens. Coinciding with her listing announcement yesterday, another piece of news appeared on Twitter on September 12. CryptoGat, a popular user in the crypto community, reported that the CoinMarketCap portal, one of the leading information resources on the crypto market, has added another DeFi token to its rating – Nyan. Trading in this coin is available on the Uniswap platform paired with ETH.