A pair of altcoins that prioritize decentralization join the expanding crypto-asset list of top US crypto exchange Coinbase.
In a recent announcement by Coinbase, the exchange said: BitDAO (BIT)stated that it will start trading on Coinbase Pro with Tether (USDT) parity if the appropriate liquidity conditions are met.
Coinbase will add support for BitDAO (BIT) & Coin98 (C98) on the ETH network (ERC-20 token). Do not send this asset over other networks or your funds may be lost. Inbound transfers for this asset are available on @Coinbase & @CoinbaseExch in the regions where trading is supported pic.twitter.com/JDfbroiMXf
— Coinbase Assets (@CoinbaseAssets) June 6, 2022
Alright What is BitDAO? BitDAO is a decentralized autonomous organization (DAO) that aims to promote and develop Web 3.0. The platform’s management token, BIT, built on Ethereum (ETH), allows users to bid and vote.
The project is described on its website as follows:
“BitDAO is a community of builders and stakeholders working together to create mutually beneficial Web3 ecosystems of people, products and public goods.”
While some blockchain-based businesses cater to narrow niches, BitDAO aims to empower multiple industries, including education, media, arts, finance and gaming. Alongside these, BitDAO is trying to promote what it calls “an Autonomous Assets (AEs) ecosystem with a shared vision for the future.”
Project partners include important investors such as Bybit, Peter Thiel, Dragonfly Capital and Alameda Research.
BitDAO, which experienced an increase of about 8 percent after the listing news, is priced at $ 0.56 with a decrease of 1.31 percent at the time of writing. Just a week ago, BitDAO was trading above $0.75.
Coin98 joins Coinbase’s growing asset list
Another altcoin that Coinbase has added support for is a decentralized finance (DeFi) platform that describes itself as an “all-in-one” platform where users can trade, stake, borrow, lend and earn crypto rewards. Coin98 (C98).
The decentralized exchange (DEX), which is one of the important selling points of the project, Binance Smart Chain (BSC) and wither It allows to exchange tokens on a number of different chains, including (SOL).
Other products and features offered by Coin98 include a crypto wallet and portfolio tracker, and the platform also allows users to issue private tokens.
The project also includes Coin98 Labs and Coin98 Ventures as part of its mission to fund and develop the broader DeFi ecosystem.
News of the Coinbase listing initially sent the Coin98 token skyrocketing 19 percent, and the altcoin instantly rallied from $0.63 to as high as $0.75.
The C98 has since corrected significantly, dropping 4.13 percent to as low as $0.70 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.