PrimeXBT Adds Uniswap (UNI) As The DeFi Platform Takes Over Crypto
Disclaimer: The text below is a press release that was not written by Cryptonews.com.
The emergence of DeFi and automated market-making platforms like Uniswap have forever changed the cryptocurrency arena, much like the emergence of margin trading platforms such as PrimeXBT.
The award-winning margin trading platform PrimeXBT has recently announced the listing of UNI tokens alongside six other crypto assets, showcasing just how far the decentralized exchange Uniswap has come in such a short amount of time.
We’ll also highlight what other altcoins made the cut in PrimeXBT’s newest asset listing and one of their largest in some time.
PrimeXBT Debuts List Of Seven New Crypto Assets
PrimeXBT is packed with more than 50 different trading instruments across forex, crypto, commodities, stock indices, and more, and it now has even more altcoins to boast about. Added alongside Bitcoin, Ethereum, Litecoin, and EOS are Cardano, Polkadot, Solana, Dogecoin, Chainlink, XRP, and Uniswap’s UNI token.
Traders can go long or short on any of these altcoins and take advantage of the volatility the crypto market is known for, unlike ever before. Trading pairs include USD across the board, while some assets also feature a BTC trading pair for even more flexibility and opportunities. All of these altcoins are available to trade on margin, with up to 1:20 leverage. Covesting strategy managers can also access these new trading pairs, but with up to 1:10 leverage. An official PrimeXBT blog post on the topic includes more information on fees and conditions.
Why Uniswap Has Exploded Along With DeFi
UNI is the governance token to the Uniswap protocol. Changes to the protocol are voted on by token holders, which Uniswap developers then implement based on community-voted specifications.
Uniswap is the leading decentralized exchange by trading volume and commands a massive amount of total value locked up in smart contracts within the protocol. In addition to allowing crypto users to trade right from their blockchain wallet, Uniswap lets users pool liquidity together for trading. In exchange, liquidity providers are rewarded with a variable APY reward.
UNI tokens were first distributed for free to early users of the platform, which were awarded with 400 free UNI tokens. From a low of under $2 in November 2020, the altcoin rose more than 2,000% to a high of $44 per UNI, making those 400 free tokens worth about $17,000 USD.
Trade UNI, DOT, SOL, ADA, DOGE, And More With PrimeXBT
Turning $800 to $1,200 into $17,000 in mere months is possible with assets like UNI, and PrimeXBT has recently listed six other coins just as popular. The award-winning platform has always offered Bitcoin, Ethereum, Litecoin, and even traditional assets like forex, oil, gold, and the S&P 500, but now also offers these trending altcoins for the most opportunity possible under one roof.
PrimeXBT’s continued commitment to providing traders with a diverse set of trading instruments for portfolio diversification and more shows through this latest listing and any updates the company rolls out. The platform also boasts the ability to access both traditional and crypto markets from a single account, personalized service with dedicated account managers, the highest level of asset protection, 24/7 live customer support, and as much as 99.9% uptime for reliable performance.
Other recent updates include the recent V2.0 platform overhaul, and the upcoming Covesting Yield Account module. Covesting Yield Accounts enable up to a 35% APY on crypto assets by connecting directly to top DeFi protocols like Uniswap, but without all the technical expertise.
More information is available on the company’s official blog where the announcement was first made. Be sure to check back there periodically to see what trading innovation is revealed next.