One of the most renowned crypto exchanges in the world, eToro has added some new assets to its offerings in order to appeal to its crypto audience. It has recently listed MANA, AAVE, YFI, and COMP. The leader in social trading and the global investment platform has kept up with market trends by offering four new crypto assets, which are Compound, Decentraland, Yearn, and Aave. There are a total of 23 tokens listed by the brokerage now, as it is aggressively trying to compete in the crypto market, where it developed its reputation steadily for its innovative ‘copy trading’ features and ease of use. Thanks to the former, anyone using the platform can copy the trades of others, as long as they are set to public.
The latest four additions that eToro has made to its lineup help in filling up some of the prominent gaps in its offerings, which are named in the NFT and De-Fi space. Yearn, Compound, and Aave are all leading DeFi tokens. Aave (AAVE) is a notable decentralized exchange that allows traders to directly swap coins one for the other without requiring the intermediary layer that’s usually needed on centralized exchanges. AAVE is the network’s governance token valued at $352 and ranked 26th. A lending protocol, Compound (COMP) recently made the announcement of introducing its Gateway chain.
This will help in expanding its operability beyond the Ethereum network, allowing loans to be collateralized across blockchains. It is valued at $397 and ranked 48th. A yield farming protocol, Yearn Finance (YFI) enables users to easily look for the highest yields that can be found in real-time from numerous decentralized finance protocols as well as third-party protocols. Plus, Yearn.Finance can also be used for building interest-bearing products. Yield aggregation, as well as insurance, are also part of the protocol. The protocol’s governance token is known as YFI and it is valued at $46,525 and ranked 54th.
The final addition that has been made by eToro is Decentraland (MANA), which is a virtual platform that allows users to do their buying and selling in a virtual world. The world is growing rapidly and brands, as well as high-profile individuals, are holding events. Digital real estate is bought and sold by users with the help of MANA, which is Decentraland’s native token. MANA is also based on the Ethereum network.
LAND tokens represent the land found in the virtual world and this is where non-fungible tokens (NFTs) step in. LAND is basically an ERC-21 standard NFT. It is valued at $0.7903 and ranked 68th. When you are trading cryptocurrencies on eToro, you will not be required to pay any commission or fee. However, people are required to pay the spread, which refers to the difference between the buy and sell price i.e. the bid and offer and these have been decided for the four assets individually. Both Compound (COMP) and Aave (AAVE) have a spread of 3.9, whereas the spread for Yearn Finance (YFI) is 2.9 and that of Decentraland (MANA) is 4.9.