Adding cryptocurrencies to Crypto exchange listings has been positive for crypto assets themselves as well as for crypto exchange platforms
Continuously expanding its presence in the crypto space, crypto exchange giant Coinbase extended the support for custodial services to approx half a dozen altcoins that include four DeFi or decentralized finance tokens. In its recent announcement, the US-based crypto exchange said that it is adding six new cryptocurrencies to its listing of more than 200 assets already part of the custody cold storage trust of Coinbase.
Coinbase Custody is primarily a custodial service that serves institutional investors having loads of money. It has attained a professional qualification in New York State and has designed to give its clients a highly secure way in order to large amounts of cryptocurrencies.
The first altcoin that got permission from Coinbase to get added to the roster is Bifrost (BFC), a DeFi protocol created on the Kusama (KSM) which stated itself as the first blockchain middleware in the world. This platform allows engineers to easily build on the top of multiple blockchains and merge the various protocols’ best features. Bifrost (BFC) has surged overnight from its weekly low of about $0.13 upto $0.15 but has corrected since with BFC now being down by about 5.97% and pricing at about $0.13.
Next on the list of Coinbase Custody is Coin98 (C98), an Ethereum-based token, a self-described as an all in one defi platform where its users can stake, borrow, lend, swap, and earn crypto rewards. Currently, Coin98 is down by about 6.52% while trading at $1.30.
Also, DODO (DODO) is joining the Coinbase cold wallet roster, a multi-chain, liquidity-providing defi exchange prepared for Web 3. From there, users can mine their tokens by themselves, create liquidity pools, and fractionalize their NFTs or non-fungible tokens. At the time of writing, DODO is down by 6.12% and trading at $0.34.
Coinbase also added to its Custody list is Reef Finance (REEF), the platform that serves DeFi users, non-fungible tokens, and gaming. This community-driven project is compatible with cross-chain and the Ethereum Virtual Machine (EVM). Currently, Reef Finance (REEF) is experiencing a slight down in its price, where it is trading at $0.007 with a 3.35% down surge.
Other remaining altcoins are Metal (MTL) and Prometeus (PROM), where the former is an Ethereum-based altcoin project and the latter is an open-source network. Metal (MTL) is designed to bring the concept of crypto payments to the mainstream, where the wallet app Metal Pay allows its users to buy, sell and trade cryptocurrencies and send capital to their contacts. While an open-source network, Prometeus (PROM) prioritized freedom of expression for which it enabled users to monetize their data.
Currently, the price of Metal is down by 7.60% and trading at $2.50 ann Prometeus (PROM) is trading at about $8.23 with a slight down of 1.3%.
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Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
