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CoinDCX Announces the New Listing: Efinity (EFI)

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Investing in Efinity (EFI) - Everything You Need to Know

Indian crypto community has has several years of great uncertainty as the forces that rule the country and the local financial industry failed to see eye-to-eye regarding the potential of the crypto industry. As things quieted down, the crypto trading thrived, and CoidDCX emerged as one of the country’s leading exchanges.

Now, the platform seems to be looking to list some new tokens and diversify its offering. According to its recent tweet, CoinCDX has listed Efinity (EFI) to its CoinDCX and CoinDCX Pro app.

Efinity becomes the newest addition to the CoinDCX exchange

Choosing Efinity to be the newest coin on CoinDCX is not a strange decision to understand. After all, Efinity is a major NFT project, and it is interoperable, at that. It is fueled by its native, deflationary cryptocurrency known as EFI, and its network is eco-friendly, capable of scaling and specifically built to be used by third parties, including companies, users, and creators, who can develop and use games, various decentralized applications, and more.

Adding a token of this type to its listing will allow the exchange’s users to enter deeper into the world of NFTs and potentially metaverse, and it would certainly enable them to reach a number of new products launched on the blockchain. This is ultimately what matters most for the exchange, as it claims that it has been committed to making cryptocurrency accessible to the Indian audience, with simpler, secure, and compliant solutions since its launch.

And, of course, since crypto is coming to stay in the Indian economy, there is bound to be a lot of competition in its market right now. Over the past several years, millions of people have been getting internet coverage for the first time in the country, and that meant new users for all of the exchanges and trading platforms around. By listing popular and highly sought-after coins and tokens, CoinDCX will be able to stay in the lead.

The platform already offers more than 80 vetted coins, and EFI has just joined its ranks itself.

CoinDCX helping Terra’s revival plan

The exchange also came under the spotlight a few weeks ago when it announced that it will start offering Terra 2.0 (LUNA) on its platform, which made it one of the early platforms to give Terra a chance at making a comeback after the blockchain crashed in May due to its stablecoin losing its peg.

Terra is not the first project to see this happen to it — before it, Waves saw the exact same issue. Both projects were seemingly beyond salvation at first, but their teams managed to create revival plans, and CoinDCX was among the first to give new Terra a chance.

After being re-launched on May 28th, Terra started with the price of $17.8, which first skyrocketed to $19.53, only to then crash to $4, recover to nearly $12, and then, over the course of the last few weeks, slowly sink down to $2, which is where it sits at the time of writing.

To learn more visit our Investing in Efinity guide.

Ali is a freelance writer covering the cryptocurrency markets and the blockchain industry. He has 8 years of experience writing about cryptocurrencies, technology, and trading. His work can be found in various high-profile investment sites including CCN, Capital.com, Bitcoinist, and NewsBTC.