The massive recent cryptocurrency rally is not going unnoticed by the online trading industry. The multi-regulated international forex and CFD broker AvaTrade announced today that it is adding three rising altcoins, Ethereum, Dash and Ripple’s XRP, to its trading portfolio.
The choice of these specific blockchain tokes is not very surprising considering the incredible returns they generated in 2017 which must have brought a lot of interest, and pressure on the broker from its clients to add them. Ripple’s XRP now has a market cap of $13.5 billion, up from $1.5 billion in early April. Ethereum and Dash already jumped before that in the previous cryptocurrency price explosion.
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“The latest political and financial events have changed the trading world, and we work hard to ensure we stay on the top of our game, and always remain an industry leading brokerage”, says Mr. Dáire Ferguson, CEO of AvaTrade. “We are proud to be the first to introduce these exciting cryptocurrencies to our impressive instruments’ selection.”
Ireland-based AvaTrade was founded in 2006 and offers more than 250 financial instruments, multiple trading platforms and mobile apps. It is regulated in the EU, Japan, Australia, South Africa and the British Virgin Islands. AvaTrade first introduced Bitcoin CFD trading back in 2013, both on the popular MetaTrader 4 (MT4) and on its proprietary platform.
The cryptocurrency ecosystem has been on fire this year. Most of the 700+ blockchain assets traded around the world are up significantly this year. In total, the combined value of the entire market is now at a record $62 billion. Leading the pack is still Bitcoin with a price of over $1840 and a market cap of $30 billion.