Since the announcement, there has been a mixed price reaction. While some like Filecoin, Bancor, and Yearn Finance have gained by as much as 10%. Others like Cardano have barely moved, recording a marginal move of less than 1%.
Amidst growing interest in cryptocurrencies and their trading, Revolut has added new tokens. Those added are Cardano, Filecoin, Synthetix, Yearn Finance, Uma, Bancor, Filecoin, Numeraire, Loopring, Orchid, The Graph and Uniswap. The digital banking service provider defined the new listings as hot tokens and top movers. The tokens will be offered for trading to the UK and the EU citizens.
Revolut dived into the crypto market back in 2017 when it began offering Bitcoin. Later in the year, it offered Ethereum and Litecoin. The firm now seems to be accelerating its efforts with the latest listing coming just three months after the listing of Tezos. With the latest listing, its total coin listing tops 20.
Revolut: Newly Added Cryptocurrencies
Since the announcement, there has been a mixed price reaction. While some like Filecoin, Bancor, and Yearn Finance have gained by as much as 10%. Others like Cardano have barely moved, recording a marginal move of less than 1%.
With over 15 million users worldwide, cutting across 49 US States and Australia, the firm has yet to indicate if the coins will be available now or in the future to these customers. However, it was quick to assure its customers of its crypto security. The firm noted in the announcement post that a majority of crypto is stored offline “cold storage”. And it has some of the best custodians. This ensures that no hackers can get access to the crypto through their online network. The crypto industry and especially exchanges are prone to cyber-attacks. These attacks are frequent when prices are in a bull market, with hackers set to cash in big rewards.
What Is Triggering The New Token Additions?
Earlier this week, Coinbase Pro announced the support of four new tokens. Support for altcoins has been on the rise with analysts predicting a return of the altseason. Bitcoin’s market dominance stands at 55%, a drop from highs of 60% at the start of the year. As a consequence, top altcoins are outperforming Bitcoin. Analysts warn this will lead to a further drop of its dominance and ultimately trigger an altseason if its dominance levels fall below 50%.
In the next few weeks, we could see a series of new additions in exchanges as they race to offer customers the hottest altcoins in the market.
Kiguru is a fine writer with a preference for innovation, finance, and the convergence of the two. A firm adherent to the groundbreaking capability of cryptographic forms of money and the blockchain. When not in his office, he is tuned in to Nas, Eminem, and The Beatles.
