NEO going on eToro? Stellar (XLM) Traded with Volatility WarningsFebruary 22, 2018
As up and coming digital assets are making noise, trading platform eToro launched new products.
The eToro trading platform added Stellar (XLM), and there are expectations NEO will also be live soon. The trading platform has moved beyond Bitcoin and has adopted some of the hottest digital assets becoming more widely known in the past months.
According to eToro, the new addition, XLM, is a “highly volatile investment product”, where one’s capital is at risk. Indeed, XLM has been seeing a period of heightened volatility in the past months, where its price moved between $1 and $0.50 after a fast drop on the entire crypto market. At the moment, XLM has remained relatively weak at $0.45.
As for NEO, the Chinese token has been widely traded on crypto exchanges. It currently stands at $129.09. Trading on eToro also means not owning NEO assets outright, but just making a bet on the price volatility. At the same time, trading and holding NEO on Binance has a small reward of GAS utility tokens.
NEO trading on eToro!!!…
Published 2 hours ago$NEO $Crypto
— Crypto Aquarium ? (@CryptoAquarium) February 18, 2018
At this point, the NEO market is still not live, and the trading launch may be happening at yet another volatile point for crypto markets.
But a thread on Reddit is more critical of eToro, showing that traders will not own actual NEO, unless the platform builds a wallet functionality. In effect, actual NEO coins would not be more easily available for Europeans, as eToro will not supply the digital asset itself.
Despite the volatility warnings, the eToro team gave a rather detailed and positive review of the Stellar technology on its Twitter:
#6reasonswhy #stellar $xlm
We are going to throughout today, tweet 6 facts about Stellar Lumens.
1. Did you know Stellar is a distributed, hybrid #blockchain that is fully open-source? An infrastructure that exists to facilitate cross-asset transfers of value, inc payments.
— eToro (@eToro) February 14, 2018
So while the platform is mostly about price, there may be some interest sparked by the underlying technology. Yet the eToro trading does not really affect the general XLM price, which is heavily dependkent on Asian trading against Bitcoin.
The NEO announcement still has not been detailed, but users already expect a spike in trading based purely on speculation. In the same way, the launch of XLM trading affected the asset price.
Wisdom of the Crowd
The eToro platform is unique for the option to follow traders in their moves, and potentially achieve higher returns.
At the time of writing, the sentiment of traders was mostly “buying” across the board for all the digital assets supported by the platform, with 99% in “buying mode”. Assets include Bitcoin, Bitcoin Cash, Ethereum, Ethereum Classic, Litecoin, Dash, Ripple, and NEO coming live any moment, according to reports.
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