Gemini Exchange Goes Big On Defi Tokens And Gaming: Report

The Gemini exchange goes big on DeFi tokens and gaming as it added seven new tokens to its platform with a clear focus on NFTs and DeFi as we can see more in our latest cryptocurrency news today.

Gemini added seven new tokens for trading on the crypto exchange such as Enjin Coin and Sandbox’s SAND which are among the new gaming tokens available. Crypto exchange Gemini expanded its number of supported tokens for trading today by adding a few new tokens including some of DeFi and NFTs. Today’s new additions include a 1inch exchange’s token, Bancor’s BNT, blockchain infrastructure tokens for SKALE, Loopring, and the Graph. Gemini exchange goes big on the new tokens to bring more users from the DeFi and NFT space.

The ETH-based Enjin Coin saw a huge price surge in the past week as a part of the overall rise in demand for gaming tokens that drove the surge of interest in collectible NFTs so according to DappRAdar, we saw a $342 million in trading volume for NFTs on marketplaces which include in-game items, collectibles, blockchain-based games, and crypto artwork.

ENJ soared in price by 269% in the past 30 days to $2.26 as of the time of writing according to CoinGecko. Enjin’s gaming platform allows game developers to implement benefits from NFTs and blockchain-like verifiable ownership of assets and cross-game asset compatibility. Last month we even saw Enjin launching an educational web game with Microsoft which unlocked NFTs for use in the Minecraft game.

The Sandbox is a game that joined the NFT collectible wave in 2021. The game sold more than $3 million in virtual land properties and the in-game currency surged by 90% in value over the past month.  1inch exchange airdropped $84 million worth of 1INCH tokens to Uniswap users back in February and the prices are unchanged from a month ago. Bancor saw a token price rise by 45% in the past 30 days.

SKALE which is backed by Tyler and Cameron Winklevoss also performed well while the Graph dapp development protocol saw some bigger adoption. Today’s additions raised the number of tokens that Gemini trades to a total of 33 with another 10 supported for custodial services.