Leading US-based cryptocurrency exchange Coinbaseto half a dozen altcoins, including four decentralized finance (DeFi) altcoins storage It continues to expand its digital presence in the crypto industry by offering (custodial) services.
Coinbase Custody now supports deposits and withdrawals for $BFC$C98, $DODO, $MTL, $PROM and $REEF
Details here → https://t.co/HtybLZye3z pic.twitter.com/ZnmLXncD9N— Coinbase Assets (@CoinbaseAssets) April 28, 2022
What is Coinbase Custody?
Coinbase Custody, It is a custodian service for institutional investors with large funds. It is designed to provide financial controls for institutions and companies that want to trade with digital currencies such as Bitcoin and Ethereum. It is leased in New York State and is designed to provide customers with a highly secure way to store large amounts of cryptocurrencies.
Coinbase Custody allows customers to both securely and actively participate in crypto networks by balancing the protection of private keys with easy online customer access to customers. Custody services include depositing and withdrawing supported crypto assets to a custodian account, as well as staking services.
Coinbase adds these 6 altcoins to Custody platform
Bitforst (BFC)
First on the list of cryptocurrencies supported by Coinbase, a DeFi protocol built on Kusama (KSM) that describes itself as the world’s first blockchain middleware. Bitforst (BFC) exists.
Bitforst aims to allow engineers to easily build programs on top of multiple blockchains and combine the best features of various protocols. The platform’s open-source, decentralized Biport Wallet was launched last November.
Bifrost surged from a weekly low of $0.13 to over $0.15 overnight, but BFC, which has since corrected itself, is back to lows of $0.13, down nearly 4 percent from the last 24 hours.
Coin98 (C98)
Next on Coinbase’s list of altcoins they’ve added support for is an Ethereum-based altcoin that describes itself as an “all-in-one” DeFi platform where users can trade, stake, borrow, lend, and earn crypto rewards. Coin98 (C98) exists.
Reaching from a low of $1.27 to $1.41 in 24 hours, Coin98 followed the downtrend in the rest of the crypto market and is currently trading at $1.29, down 2%.
DODO (DODO)
Coinbase also joins the list of cold wallets Dodo (DODO), a multi-chain, liquidity-providing DeFi exchange designed for Web 3.0. On this platform, users can issue their own tokens, create liquidity pools, and also split non-fungible tokens (NFTs).
Like other altcoins, the cryptocurrency, which started to rise after the news, succumbed to the downtrend in the market, like other altcoins, and witnessed a decline in its price. DODO is trading at $0.34, down about 7 percent at the time of writing.
Reef Finance (REEF)
Reef Finance (REEF) is also on the list of cryptocurrencies supported by Coinbase and added to the Coinbase Custody list. Reef Finance caters to DeFi, non-fungible tokens and gaming users. The community managed project is a platform compatible with Ethereum Virtual Machine (EVM) and cross-chain as well as EVM.
Reef Finance experienced a fluctuating downward price movement last month. Having suffered the same fate as other altcoins, REEF corrected after its rise to 0.0086 tokens and is currently changing hands at $0.0077 per token, down over 8 percent.
Metal (MTL)
The central crypto asset of the Metal Pay wallet app, a platform that allows people to buy, sell, trade cryptocurrencies, as well as send money to friends and family. Metal (MTL) It also takes the lead among the altcoins that Coinbase adds support.
Founded in 2017, the San Francisco-based platform recently announced a partnership with London-based Railsbank to offer European Union consumers services that are now available in most US states.
Recently, the company’s Finance Director Irina Berkon made a statement stating that they have finally realized their plans. Berkon tweeted a screenshot documenting its first successful transactions using the newly launched feature in Europe. After that, the coin experienced an impressive increase and took its place in the headlines.
Metal, another Ethereum-based cryptocurrency project aiming to bring crypto payments to the mainstream, rose from $2.58 to $2.76 during the day, but turned red like the others and traded at $2.59, down over 1% at the time of writing. he sees.
Prometheus (PROM)
Last on the list is Prometeus (PROM), a platform whose open-source network allows users to monetize their data while prioritizing freedom of expression.
The cryptocurrency, which rose from $ 8.03 to $ 8.74 during the day, experienced a correction and is trading at $ 8.08 at the time of writing, down more than 4 percent from the last 24 hours.
You can check the price movements here.
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.