In brief
- Gemini will soon list three new cryptocurrencies on its exchange.
- Prices for Orchid and Chainlink are up big on the news.
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New York-based cryptocurrency exchange Gemini today announced that it’s adding three new cryptocurrencies to its list of digital offerings: Chainlink (LINK), Dai (DAI) and Orchid (OXT).
While the three tokens will not be available on the exchange until April 24, news of the forthcoming listing is already driving considerable interest for these coins: prices for OXT and LINK, for example, skyrocketed today between 10% and 15%, respectively.
Once the coins are listed on the Winklevoss-backed exchange, Gemini customers will be able to deposit them into their online wallets and start trading soon after. Gemini says it will also be offering USD, Bitcoin and Ethereum trading pairs for LINK, DAI and OXT.
This will bring the total number of cryptocurrencies supported and offered by Gemini to nine. Aside from these three new additions, Gemini also supports Bitcoin, Litecoin, Zcash (ZEC) and Basic Attention Token (BAT). It also offers custody services for 15 coins, including 0x (ZRX), Bread (BRD), Decentraland (MANA) and its own stablecoin Gemini USD (GUSD).
While DAI is also a stablecoin—meaning it’s designed to protect users against volatility—the news appears to have positively influenced the prices of both Chainlink and Orchid.
Orchid’s OXT is now trading for $0.15 per coin, a price level it hasn’t seen since before the mid-March crypto crash. Chainlink, meanwhile, is now priced at $3.40, making it today’s best performing asset in the industry’s top 20 coins by market cap.
In fact, Chainlink has gained more than $1 on its price since the beginning of the week. It’s the first time LINK has soared above the $3 line in nearly a month. Today’s surge marks a one-day gain of $0.60 for the world’s 11th largest cryptocurrency, which powers the “oracle of oracles” network.
Chainlink broadcasts Internet data on the Ethereum blockchain for use in smart contracts. The other network getting some shine today, Orchid, is predominantly used by those seeking additional privacy to purchase virtual private networking (VPN) bandwidth.
“These assets expand the range of our platform and further our mission to empower the individual through crypto,” Gemini wrote on its blog page. “We look forward to continuing to bring mission-oriented projects to you in the future.”