eToro is the latest trading platform to add support for EOS cryptocurrency. The addition brings the total number of Altcoins to 10 that traders can trade in the next generation global trading and investment platform.
eToro has also confirmed that it will add EOS on its CopyFund feature soon to allow traders to copy trades made by other successful traders. The addition of EOS in eToro comes on the heels of an exciting rally that has seen the digital currency price surge by more than 20% over the past one month. Investors reacted positively to the latest development pushing the digital currency up by a further 16%.
EOS is a blockchain-decentralized system that allows people to develop, host and execute commercial-scale decentralized applications. It is becoming increasingly popular in the cryptocurrency space as focus shifts from mainstream digital currencies like Bitcoin (BTC) and Ethereum (ETH). Renewed investor interest in the space has also had a positive impact in less popular virtual currencies sentiments in the market as they are seen as affordable and less risky.
eToro Cryptocurrency Push
Since entering the cryptocurrency foray in 2013, eToro has been increasing support for popular cryptocurrencies. Early this year it added support for Stellar Lumens (XLM) and NEO in addition to the Bitcoin, Ethereum Ripple (XRP) and Litecoin (LTC) that it already supported. The platform is now at the forefront in cryptocurrency trading after making a name for itself over the past few years.
“We are constantly seeking to identify and assess new concepts as they emerge and we are committed to bringing the best crypto assets onto our platform for our users to invest in. We’re excited to have brought EOS onto the platform already this year, and we look forward to seeing how the market develops in 2018,” said CEO Yoni Assia.
According to eToro, growing demand for Altcoin prompted the addition of EOS ,which is the fifth largest cryptocurrency with a market cap of about $11 billion. Bitfinex and Binance are the other platforms offering support for the EOS mainnet.
EToro has already received $100 million in a funding round from SBI Group, Korea Investment Partners and World-Wide Investment Company Limited. According Mr. Assia, the funds should help in the further development of the company’s technology infrastructure and support rapid growth.
EToro also plans to accelerate market-leading work in blockchain research and the development of digital assets with the new funds.