Coinbase has added four new crypto assets to its altcoin arsenal, triggering epic price rallies for two altcoins.
A cross-chain platform for decentralized applications and financial services. to Funciton X Ethereum-based (ETH) governance token designed to power FX, It was the first altcoin added to Coinbase Pro.
Designed to be used as a payment method for the creation of smart contracts and data storage, users of the coin can stake FX to earn rewards and use token allocations to vote on the future of the network.
The announcement from Coinbase triggered a massive spike in the FX price. According to data from CoinGecko, the coin has made an excellent increase of 188% from its 24-hour low to as high as $1.98.
The next cryptocurrency added to the Coinbase Pro platform is the one built on the Ethereum network. Jasmy (JASMY).
Aiming to use blockchain technology to build decentralized IoT (Internet of Things) platforms, the platform’s token is designed to be used to pay for services on the network and transfer value between devices.
JASMY rallied 129 percent from a 24-hour low of $0.017 to $0.039. The altcoin, which later lost some of its gains, is now trading at $ 0.031.
Coinbase Pro is also an Ethereum-based token that reflects Centrifuge (CFG) price. Wrapped Centrifuge (WCFG) and an Ethereum-based token designed to be pegged to the Bitcoin (BTC) price forever. tBTC (TBTC) added to the platform. However, these two altcoins failed to achieve dramatic rises like the others.
CFG, which is actually part of the Polkadot (DOT) ecosystem; It is gaining traction as a platform designed to bring real-world use cases to decentralized finance (DeFi), such as billing and borrowing and lending of traditional assets such as real estate.
WCFG and CFG experienced volatile price movements following the announcement from Coinbase and are now trading at $1.98, up about 1.8 percent.
tBTC (TBTC) is part of the Keep Network (KEEP) ecosystem, investors can deposit their local BTC and receive tBTCs which can then be redeemed in the Ethereum ecosystem in return.
tBTC, which is worth $54,188 at the time of writing, has increased by 6.4 percent in the last 24 hours in parallel with Bitcoin.
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.