Crypto exchange giant Crypto.com (CRO) is adding support for two decentralized finance (DeFi) altcoins as the digital asset market continues to experience widespread downturn.
According to a blog post, the Singapore-based exchange platform is an Ethereum-based protocol built on stablecoin exchange Curve Finance (CRV). Convex Finance (CVX) and automated market maker (AMM) and decentralized exchange (DEX) built on Avalanche Trader Joe’s (JOE) announced that it will list
Convex is a platform on the Curve Finance exchange that rewards liquidity providers and CRV stakeholders with no withdrawals or minimum performance fees. Native utility token CVX can be staked on Convex Finance to receive a share of Curve’s liquidity pool earnings and vote on CVX management.
CVX is changing hands at $45.67, up 5 percent at the time of writing, and is trading around 14 percent below its all-time high < $, which it reached three days ago, according to data from CoinGecko.
TraderJoe, a platform that combines token exchange with decentralized exchange services such as lending and leveraged trading, has recently experienced a 17 percent increase in its price, from $2.17 to $2.62, with support from the US-based crypto giant Binance. .
The local government token JOE can be used to vote on the course of the platform and can also be used to receive protocol rewards.
Post-listing TraderJoe climbed as high as $2.31. The altcoin, which has been correcting since then, is trading at $2.17 at the time of writing.
Crypto.com gained mainstream recognition last month after paying a massive $700 million for the naming rights to the iconic Los Angeles sports stadium. The stadium is now referred to as the Crypto.com Arena.
Crypto.com states that neither CVX nor JOE will be available to customers in the United States or Singapore.
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