Gemini exchange adds support for three new crypto tokens
- Gemini exchange will be adding support for Dai (DAI), Chainlink (LINK), and Orchid (OXT) on April 24.
- Existing traders must create a new Ethereum deposit address to deposit the newly supported tokens.
Popular trading platform and crypto exchange, Gemini, will be adding support for three additional tokens on April 24. In a recent blog post, the exchange announced that it would add support for Dai (DAI), Chainlink (LINK), and Orchid (OXT). With these three tokens, the total number of tradable tokens on the exchange has increased to nine.
Gemini has picked these tokens precisely due to their proven markets and novel consumption models. This suggests that the demand will continue to increase as the ecosystem evolves. Dai is the collateral-backed stablecoin of the Maker Protocol’s decentralized finance (DeFi) platform, with a soft-peg to the USD. Chainlink creates bridges between blockchain smart contracts and off-chain data, while Orchid is a decentralized peer-to-peer marketplace for virtual private network (VPN) bandwidth.
Deposits for the three new tokens will be accepted from 9:30 am ET on April 24 and trading will follow shortly after that. If an existing trader wishes to deposit the newly supported tokens, they must create a new Ethereum deposit address as current addresses will not be supported.
Author
Rajarshi Mitra
Independent Analyst
Rajarshi entered the blockchain space in 2016. He is a blockchain researcher who has worked for Blockgeeks and has done research work for several ICOs. He gets regularly invited to give talks on the blockchain technology and cryptocurrencies.
