Social trading and investment platform eToro announced on Monday it had added IOTA (MIOTA) to its list of tradable cryptocurrencies, citing as reason the altcoin’s popularity with the crypto community.
“Since being launched in 2015, the IOTA cryptocurrency has gathered a following and established itself as one of a handful of cryptos whose market caps are in the billions. Making its way into the top 10 ranking, IOTA is popular among many traders and investors. Now, IOTA is also part of eToro’s cryptocurrency selection, and traders and investors of the eToro community can add it to their portfolios,” eToro said in a blog post.
The addition of MIOTA brings the total number of coins supported by eToro to 12. The rest are Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Bitcoin Cash (BCH), EOS (EOS), Litecoin (LTC), Stellar (XLM), NEO (NEO), Dash (DASH), Ethereum Classic (ETC), and Cardano (ADA).
“At eToro we believe in diversification and we are committed to bringing more cryptoassets onto our platform for our users to invest in,” commented eToro co-founder and CEO Yoni Assia
eToro was established in 2006 in Israel as a forex broker called RetailFX. In 2017, the company ventured into the crypto space, offering crypto investment funds and later crypto-to-fiat trading with several of the major digital coins. eToro currently serves over 10 million registered users across 140 countries. In June, a month after its entry to the US, it announced plans to open a branch in London
After surging in December and January, MIOTA has recently erased the gains, falling to the same level as in August 2017. Currently, the coin is trading at $0.50, having lost almost 4.32% in the past 24 hours, according to Coins.Online data. Its market capitalization stands at $1.4 billion, placing it at number 11 on the cryptocurrency chart.
MIOTA’s decline came after the leak of a chat concerning the internal dynamics in the IOTA Foundation, in which co-founder Sergey Ivancheglo called for the dismissal of the foundation’s director, Dominik Schiener. Ivancheglo was lashing out after being denied a board seat for months.
IOTA has made several other headlines this year. The blockchain project has announced partnerships with German automakers Porsche and Volkswagen and has also joined forces with the United Nations to bring “transparency and efficiency” to the work of the organization.
In June, IOTA launched its Qubic project — a complete ecosystem of distributed computing that aims to add value and real-world applications to the asset. In addition, the foundation introduced IOTA Hub earlier in August. The new open-source protocol, designed to expedite the process of exchanges listing MIOTA, has already been used to add the coin on Upbit, one of South Korea’s most popular cryptocurrency exchanges.