Gemini, a popular U.S. based cryptocurrencies exchange, has shared a disruptive listing announcement. Analysts claim it may be the most aggressive trading toolkit expansion for the entire history of America's crypto segment.
Gemini lists DeFi assets
According to the official announcement by the Winklewii twins' exchange, twelve new assets will be added to its spot trading suite. This release will include veteran Ether-based products 0x (ZRX), Kyber Network Crystals (KNC) and Ren Protocol (REN), as well as native assets of blockchain-based real-world products: Decentraland (MANA) and Storj (STORJ).
LISTING NEWS: Deposits for $ZRX, $BAL, $CRV, $MANA, $KNC, $MKR, $REN, $STORJ, $SNX, $UMA, $UNI, and $YFI are now open!
— Gemini (@Gemini) September 25, 2020
Limit orders will be open at 11AM ET on Gemini ActiveTrader™ and API ONLY, Mobile App + Web #trading will follow. More info to come!https://t.co/mf05NZ4qWz
However, the native tokens issued by decentralized financial protocols Balancer (BAL), Curve (CRV), Maker (MKR), Synthetix (SNX), UMA (UMA), Uniswap (UNI) and Yearn.Finance (YFI) are the most fascinating part of this release. In terms of major recognized exchanges, it is the most massive one-time listing announcement for DeFi assets.
Decentraland (MANA), Kyber Network Crystals (KNC), Maker (MKR), Storj (STORJ), and 0x (ZRX) were already available for custody, but now their trading is going live. Three more assets have been added to custody: Keep Network (KEEP), Wrapped Bitcoin (wBTC) and tBTC (tBTC).
Gemini stresses that, immediately after launch, new assets will be available for trading only in Gemini Active trader mode and through API. Desktop and mobile releases for newly listed tokens will be deployed soon.
Community responds
Leading cryptocurrencies experts hail the upcoming release. Joseph Todaro, managing partner of Blocktown Capital firm tasked with blockchain-related research projects and investments, treats Gemini's decision as an unprecedented one:
Awesome move from @Gemini. Not listing enough assets was a major limitation. Now they just did the most aggressive token listing I've seen from a US exchange.
This listing may inject new life into DeFi tokens amidst the most painful pullback of the ongoing decentralized protocols euphoria. As covered by CryptoComes, average losses of DeFi tokens surpass 50 percent in 30 days. Some Gemini newcomers are among the worst performers in this sad list.
However, when it comes to tier-one exchanges, massive listings are often criticized by crypto pundits. For instance, Binance was recently slammed for listing SushiSwap (SUSHI) and DFI.Money (YFII) DeFi protocols in breach of its own due diligence rules.
Also, Bitcoin (BTC) maximalist and RT host Max Keiser bashes Coinbase for every listing of a new altcoin. He insists that, with such an approach leading the U.S. crypto exchange ecosystem, it should be regulated like a casino.
