Digital asset exchange giant Crypto.com is rolling out support for two under-the-radar altcoins as the crypto markets continue to crater in the wake of crypto-friendly bank Silvergate’s announced shutdown.
Customers of the Singapore-based exchange can now trade Liquity (LQTY) and Gelato (GEL), according to an announcement from the firm.
Liquity is a decentralized Ethereum (ETH)-based lending protocol powered by its stablecoin LUSD. The protocol uses ETH as collateral, and LQTY, its native token, can be used for liquidity mining and staking. LQTY stakers can earn LUSD from fees on loan issuance, and ETH on redemptions.
LQTY is trading at $1.77 at time of writing. The 203rd-ranked crypto asset by market cap is up 1.73% in the past day and more than 7.27% in the past week. Binance, the world’s largest crypto exchange platform by volume, also added support for the token in late February.
Gelato is a decentralized automation protocol comprised of smart contracts built on Ethereum. The project bills itself as “Web3’s decentralized backend,” enabling developers to build “augmented smart contracts that are automated, gasless and off-chain aware.”
Gelato’s native ERC-20 token, GEL, is trading around $0.251 at time of writing. The 663rd-ranked crypto asset by market cap is down more than 6% in the past 24 hours but up more than 21.2% in the past seven days.
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