Gemini, a cryptocurrency exchange based in New York, has announced support for new DeFi tokens along with people’s favorite Shiba Inu. In an attempt to provide better services to its users, the crypto exchange has also included Metaverse tokens in its list.
“Shiba Inu (SHIB), Audius (AUDIO), Mask Network (MASK), Wrapped Centrifuge (wCFG), Quant (QNT), Radicle (RAD), Burn (ASH), SuperRare (RARE), Fetch AI (FET)*, and Numeraire (NMR) are now supported for deposits and custody on Gemini.”said the announcement from Gemini
The cryptocurrency exchange earlier supported the custody of API3 and USD Coin (USDC) and now will list them for trading too. The trading will “first open on our API/FIX and ActiveTrader applications for USD trading pairs,” as the announcement said.
The trading will then start on the Gemini Mobile App and website. Furthermore, there are now around 60 new tokens that will be available for custody, with 16 new tokens available for custody. The cryptocurrency exchange is the first regulated digital asset service provider in the United States to provide trading for API3, ASH, and RARE.
Gemini steps in for Metaverse
Metaverse tokens have grown in popularity as Facebook’s recent transformation to Meta turned every investor bullish on these tokens. The listing of said tokens on the Gemini exchange depicts the gradual transformation and increased interest in Metaverse projects.
Recently Nike, the major firm in the designing and footwear industry, also decided to enter the Metaverse as it filed for seven trademark applications with the U.S. Patent and Trademark Office on Oct 27. This development was revealed by CNBC.
Also, the humongous rise of the metaverse token, Decentraland (MANA), which also backs the Grayscale Decentraland Trust, portrays the rising interest in metaverse-based projects. Using the token, users can buy, develop, and sell LAND in the Decentraland metaverse as it represents land ownership in the virtual world.
MANA rose by more than 163% in just two weeks, reaching a new all-time high at $4.69. Currently, as per data from the Gemini exchange, the Decentraland token is down by 11.48%, and nearly 30% from its all-time high.