Partnership News From Coinbase Puts This Altcoin On The Rise!

The largest US cryptocurrency exchange Coinbase announced yesterday that it has launched Base, an Ethereum (ETH) layer 2 solution, leveraging Optimism’s technology.

After the Base announcement, Optimism (OP) rose by about 20%, after which it suffered some pullback. The OP continues to trade at $3.06, up nearly 10% over the last 24 hours.

After the Coinbase Optimism partnership, it also partnered with Covalent, a Web3 data provider.

Making a statement on its Twitter account, Covalent announced that they have partnered with Coinbase to support the testnet launch of Base, a new Etheruem layer 2 solution created by Coinbase.

A platform trusted by a community of over 40,000 developers and providing data for more than 5,000 applications, Covalent will provide on-chain data for Base’s testnet and play an active role in monitoring development progress.

Covalent’s Web3 data platform will access a new repository through Base, its Ethereum layer 2 solution, and expand its scope to include more than 80 supported blockchains, enabling all data to be retrieved from the genesis block.

Ganesh Swami, CEO of Covalent, said in his statement:

“This collaboration is a testament to our commitment to providing the most comprehensive and accurate data.

We look forward to contributing our resources and expertise to the development of this groundbreaking project that will benefit the entire community.”

1/🚨 BREAKING NEWS 🚨

🔵 We’re excited to announce that the Covalent #UnifiedAPI will be integrating with @BuildOnBasea new Ethereum L2 incubated by Coinbase and built on the open-source OP Stack by @OptimismFND! ✨🔴_🔴✨

Learn more about the integration ⬇️⬇️ pic.twitter.com/mw5Zp16hry

— Covalent 🐻 🛠 (@Covalent_HQ) February 23, 2023

Covalent’s token after Coinbase partnership CQT, rose 14%. CQT It continues to trade at $0.1436 at the time of writing.

*Not investment advice.