An altcoin pair has experienced bullish price action following a surprise listing by top US crypto exchange Coinbase.
Coinbase, a multi-chain interoperability platform, announced on its official Twitter account. Loom Network (LOOM) announced that it can now be bought and sold on its main website, iOS and Android apps.
Loom Network (LOOM) is now live on https://t.co/CD3RBjtMAO & in the Coinbase iOS & Android apps. Coinbase customers can log in to buy, sell, convert, send, receive or store these assets. pic.twitter.com/HZEkVdck7G
— Coinbase Assets (@CoinbaseAssets) February 7, 2022
Loom Network is a platform that aims to provide developers of decentralized applications (DApps) with tools that are both scalable and designed for ease of use. On the platform’s website, the team describes the project as follows:
“With seamless integrations with Bitcoin, Ethereum, Binance Chain and all major blockchains, deploying once on Loom allows you to future-proof your DApp by reaching as many users as possible.”
The project’s native token, LOOM, secures the Basechain mainnet and can also be used by developers to pay for DApp hosting fees.
Loom Network initially rose nearly 28 percent from $0.077 to $0.107 on news of the Coinbase listing. The cryptocurrency, which then corrected in several stages, closed the day at $ 0.92, then fell to $ 0.80 and is trading at those levels at the time of writing.
Another cryptocurrencies greenlit by Coinbase Pro is its native token. UPI It’s a pet-focused protocol that stands for “Universal Pet Income”. pawtocol‘Stop.
Inbound transfers for Pawtocol (UPI) are now available on @Coinbase and @CoinbaseExch in the regions where trading is supported. Trading is not enabled at this time. Trading will begin on or after 9AM PT on Tuesday February 8, if liquidity conditions are met. pic.twitter.com/qhnzYGwvFv
— Coinbase Assets (@CoinbaseAssets) February 7, 2022
Addressing pet care issues such as poor health, deceptive advertising practices, and corporate monopolies, Pawtocol is a platform that aims to harness the power of blockchain technology to revolutionize the industry. In the project’s whitepaper, the team describes the platform as:
“Pawtocol was inspired by a shared vision to build a global community of pet parents, service providers and manufacturers working together to improve pet care.
We have a mission to help pets around the world live longer and healthier lives by empowering pet sitters with the latest technology and data.”
Animal lovers can earn UPI by sharing data from their pet’s scannable, blockchain-linked tag, and then use the token to buy toys and food for them.
Pawtocol has experienced impressive gains as a result of the Coinbase listing, initially surging from $0.09 to $0.15 with a quick gain of 66 percent before correcting. Losing some of its gains, UPI is trading at $0.11 at the time of writing.
According to Coinbase, the UPI will be ready to be traded alongside USD and USDT once the required liquidity conditions are met.
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.