Israel-based trading and multi-asset investment platform eToro has expanded its crypto offerings by adding five new cryptoassets to its platform.
The new cryptoassets, LayerZero, ZKsync, Pyth, EigenLayer, and Swell, enhance the platform’s multi-asset investment options.
LayerZero is a cross-chain messaging protocol that enables easy blockchain interoperability.
ZKsync is a Layer-2 scaling solution designed to enhance Ethereum’s speed while reducing transaction costs.
Pyth is a decentralised oracle network, that provides real-time market data for decentralised finance (DeFi) applications.
EigenLayer and Swell are designed to improve Ethereum’s security and capital efficiency and are categorised as ‘experimental’ cryptoassets.
The experimental cryptoassets show potential for innovation and disruptive technologies.
eToro’s latest additions to the experimental category, EigenLayer and Swell, which often associated with high volatility, low liquidity, or strong community engagement.
The company’s other experimental cryptoassets include Toncoin, Pepe, and Official Trump.
eToro chief blockchain officer Omri Ross said: “We’re pleased to announce the latest additions to our cryptoasset offering.
“We aim to offer our users access to a broad range of cryptos from longer-established, more well-known names through to ‘experimental’ tokens which represent newer projects in the blockchain space.”
Considering the elevated risks linked to experimental cryptoassets, eToro will restrict the value of positions users can open, depending on their eToro Club tier.
The restrictions are intended to manage the risks associated with trading high-volatility assets, said the Israeli trading and investment platform.
Furthermore, the company is currently blocking the availability of the newly added cryptoassets to users in Australia, Germany, the UAE, and the US.
eToro has been offering retail clients access to the crypto markets since 2013, where users can buy, hold, and sell more than 100 cryptoassets on its platform.
