Top US crypto exchange Coinbase has added a pair of decentralized finance (DeFi) altcoins to its expanding list of assets. As previously reported by KoinFinans, these two cryptocurrencies were on Coinbase’s list of listable assets.
In a recent announcement from the exchange’s official Twitter account, Coinbase announced that if the appropriate liquidity conditions are met. Index Cooperative (INDEX) It will begin trading on Coinbase Pro, paired with Tether (USDT). told.
Coinbase will add support for Wrapped Ampleforth (WAMPL) and Index Cooperative (INDEX) on the Ethereum network (ERC-20 token). Do not send this asset over other networks or your funds may be lost. pic.twitter.com/HmHdINAGIg
— Coinbase Assets (@CoinbaseAssets) June 8, 2022
What is Index Cooperative?
Index Cooperative (INDEX)is the first community-led decentralized organization focused on driving the creation and adoption of crypto index primitives. Index Cooperative aims to create user-friendly and profitable investment products by bringing together people with diverse skills to maximize strategy.
The platform’s local government token, INDEX, gives its holders voting rights on proposed new products as well as asset allocation.
Index Cooperative, which experienced a decline after the Coinbase announcement, initially decreased by 24.4% from $ 7.99 to $ 6.04. However, the altcoin’s price recovered and climbed as high as $6.36.
Wrapped Ampleforth
A wrapped version of DeFi token Ampleforth (AMPL), which aims to provide price-supply balance Wrapped Ampleforth (WAMPL) joins Coinbase’s expanding altcoin list.
According to his whitepaper, AMPL’s supply expands or contracts every 24 hours depending on the price of the token. If AMPL trades above $1, users will receive more tokens – if AMPL trades below $1, users lose tokens.
The use of full chain, no need for technical integration, and a total fixed supply of 10 million WAMPL tokens are also among the advantages of the cryptocurrency.
The price of the wrapped Ampleforth has been volatile since the Coinbase announcement, rising 22 percent from $6.03 to $7.36. The price of the altcoin, which could not hold at these high levels, dropped to $ 6.17.
After volatile price action over the past 24 hours, WAMPL is trading at $6.49 at the time of writing.
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.