May 18, 2018 By: Steven Anderson
<p>One company that’s been right in the thick of cryptocurrencies for some time now is deVere Group, a group described as “one of the world’s largest independent financial service organizations.” We’ve heard plenty out of these guys—particularly its CEO, Nigel Green—and now the group itself has dropped word our way about new additions to its cryptocurrency lineup: Stellar Lumens and Monero.</p>
This brings deVere Crypto’s slate of offerings to seven so far: bitcoin, Ethereum, Litecoin, Ripple, Dash, and now Stellar and Monero. Interestingly, Monero and Dash don’t even appear in the top 10 cryptocurrencies by market cap, and deVere Crypto is currently down Cardano, IOTA, Bitcoin Cash, TRON and EOS from the top 10.
The deVere Crypto move actually came at an interesting time, not long after IBM confirmed that Stellar was to be its first cryptocurrency used on public blockchain, which might well give it a shot in the arm over the long term.
CEO Green noted “We’ve further expanded our offering on deVere Crypto to include Stellar and Monero due to clients demanding an even more extensive crypto portfolio. People are piling into cryptocurrencies. The surge in demand is being fueled by digital currencies becoming ever more mainstream. Both retail and institutional investors are finding it increasingly hard to ignore the potential opportunities of cryptocurrencies.”
The problem here, of course, is that deVere Crypto’s “crypto portfolio” was never really what you’d call “expansive.” Even with this expansion, it represents just seven cryptocurrencies out of a field of over 1,500 as of just April 18, and more showing up regularly. That’s not even a full one percent of the available offerings; deVere Crypto represents, roughly, 0.47 percent of the field. By way of comparison, Poloniex offers around 100 such releases at last report.
It’s a decent enough start, but it’s really little more than a start. If deVere Crypto really wants to compete in a field full of exchanges, it needs to shore up its numbers, allowing users to trade in more than just those seven cryptocurrencies. It’s a big field, after all, and people want to buy Dogecoin and Potcoin just as much as they want to buy bitcoin and Monero.
