Coinbase triggered a double-digit rally on an altcoin project that it was added to its listing roadmap. The details of the hot development are as follows…
Coinbase listing news caused 30% rally in this coin
The popular centralized cryptocurrency exchange announced that it has added Dimo (DIMO) to its listing roadmap. The announcement made in the past hours triggered a massive price action in DIMO price that continued its momentum.
According to the official Twitter announcement, Coinbase is adding Dimo (DIMO) to its altcoin listing roadmap. Dimo is an open source, decentralized open tool connectivity platform. Users can connect their cars to Dimo and earn money from the platform via DIMO token. After the announcement, DIMO’s last 24 hours gain opens 30%.
Dimo (DIMO) price climbs for 50% gain
DIMO price has gained more than 40% in the last 24 hours at the time of writing. Transaction volume also exploded at the same rate. The altcoin climbed from an intraday low of $0.05652 to $0.1236 shortly after the Coinbase announcement.
At the time of writing, it continues its momentum, and the price is rapidly approaching 50% of its daily gains. The 24-hour chart provided from CMC shows that the rally took place within two hours.
What is Dimo (DIMO)? What features does it distinguish from other projects?
DIMO is an altcoin project that allows car owners to collect, use and monetize the data on their cars. Their decentralized applications allow them to collect and use data from their tools and monetize that data.
Developers and data consumers can access this data and build applications and services on a stable, open platform that lowers the cost of delivering better products and services.
DIMO is openly built with open source components. This approach will unlock levels of transparency, privacy, composability and reliability in IoT networks and increase user and developer confidence in connected devices and services.
Features of DIMO
DIMO includes elements such as the Ethereum Virtual Machine, cryptography, open source software, real-world hardware, and an ecosystem of applications built on it. With these features, it can work in the following areas:
- Users can create a Blockchain-based identity using NFTs and other types of smart contracts for vehicles, travel, and more.
- It can cryptographically add telemetry data to vehicles and trips using licensed hardware devices (e.g. DIMO Data Miner) and approved software APIs (e.g. Tesla API).
- It allows users to store their own data and decide which data to share with whom and in what situations.
Coinbase shows its influence
cryptocoin.com As we reported, Coinbase triggered a similar rally on April 10 with the Virtua listing. TVK price gained 8% in a short time.
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