Gemini Exchange Kicks Off Trading Of New Cryptocurrencies Including DAI, LINK And BAT
Winklevoss owned exchange, Gemini, opens trading for four new cryptocurrencies pairs including DAI, the famed decentralized finance product. Gemini listed DAI on Tuesday, May 5, 2020 at around 12 PM ET. Basic Attention Token (BAT), decentralized oracle based token, Chainlink (LINK), and Orchid (OXT) complete the lineup on the added tokens.
After the announcement about a week ago, trading on LINK, DAI, BAT, and OXT has now been activated on the Gemini platform opening up the market for the tokens. Gemini founders and famous Bitcoin twin Billionaire, Cameron & Tyler Winklevoss took turns in welcoming the four cryptocurrencies to the exchange.
Decentralized Finance (DeFi) is a new system that can offer greater choice, independence, and opportunity for everyone. $DAI is a crypto-collateralized stablecoin for DeFi apps. It’s now available for trading on @Gemini. We look forward 2 helping u engage w/ DeFi.
— Cameron Winklevoss (@winklevoss) May 5, 2020
Is this the perfect time for listing?
The recent listings blend in with the massive growth in adoption each of the coins has received over the past year or so. Chainlink, a decentralized oracle service, is one of the top-performing cryptocurrencies in 2020 gaining massive adoption across blockchain projects and crypto exchanges. Over the past month alone, LINK has gained 62% dwarfing any top 30 coins on the log, including BTC.
Tyler recently compared the developments and interactions of the Link marines, the community around Chainlink, to Bitcoin’s and Ethereum’s early days.
DAI, a stable coin by Maker Protocol, has witnessed a soar in the number of assets collateralizing the stable coin on Maker. Wrapped BTC is the latest asset users can set up as collateral and receive DAI in return. The absolute growth of DAI will be mutually beneficial to both Gemini and DAI as new market forms around the stable coin.
Orchid is a decentralized, trustless virtual private network (VPN) that allows users to browse privately shielding the IP address and location while surfing the internet. BAT is a similar fashion that provides a private browser for users and incentives for interacting with content on the browser. Gemini providing support for these tokens provides a gateway for eligible users to easily purchase and sell the tokens.