The cryptocurrency market continues to oscillate back and forth. For now, it remains unclear which way the pendulum will swing. However, crypto exchanges continue to increase options for their users. Leading crypto exchange Coinbase recently announced that it will add Safe (SAFE) to its list. However, the listing news backfired for the token. SAFE price saw a 40 percent drop. Meanwhile, SafeSEP22 has enabled the transferability of SAFE tokens as a result of the SafeDAO vote.
Coinbase gave SAFE the good news of listing, the token price dropped!
cryptokoin.comAs you follow from , Coinbase has been making surprise listings lately. In this regard, Coinbase announced that it will add Safe (SAFE), a relatively new altcoin, to its list. The exchange will support SAFE as an ERC-20 token on the Ethereum network. Meanwhile, Coinbase stated that it will apply an ‘Experimental’ label to SAFE. Additionally, there was no clear time for the start of operations. The stock exchange announced the list news as follows.
Coinbase will add support for Safe (SAFE) on the Ethereum network (ERC-20 token). Do not send this asset over other networks or your funds may be lost. Transfers for this asset are available on Coinbase and CoinbaseExch in regions where trading is supported.
The exchange said trading will begin later today once liquidity conditions are met. In this context, he noted that once sufficient supply of the asset is ensured, it will gradually launch trading in the SAFE-USD trading pair. The Coinbase announcement did not have much of a positive impact on the altcoin price. SAFE price fell from its intraday high of $3.97 to $2.21. At the time of writing, SAFE was trading at $2.21, down nearly 40% on a daily basis.
SafeDAO greenlights SAFE SEP22
SafeDAO has enabled the transferability of SAFE tokens following a successful vote. SafeDAO shared this announcement via the X account. SafeSnap module was used to make tokens transferable. Thus, previously locked tokens became transferable.
However, tokens still in the lock contract are not eligible for transfer. Following the token unlocking, SAFE’s value dropped by more than 40% to $2.21. According to the latest data, Safe’s fully diluted value is $938 million. The project set the maximum supply at 1 billion tokens. Currently the circulating supply is 427 million tokens. SafeDAO’s tokens were locked for nearly two years. However, enabling token transferability was decided by community governance. In this context, the project identified five milestones for re-evaluation.
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