Crypto alternate Coinbase is placing two new digital belongings onto its itemizing roadmap of tradable altcoins as markets proceed their downtrend.
In a brand new announcement through Twitter, the US-based alternate says it’s including Avalanche (AVAX)-based BENQI (QI) and Cosmos (ATOM)-based Kava (KAVA) to its roadmap.
BENQI is a decentralized finance (DeFi) protocol consisting of BENQI Liquid Staking and BENQI Liquidity Market. QI is the venture’s native token used for governance and utility. It’s required to vote on proposals made by the BENQI decentralized autonomous group (DAO).
At time of writing, QI seems to have reacted positively to the Coinbase information, up 10% on the day and 21% during the last seven days. BENQI is buying and selling for $0.0072 with a market cap of simply over $23 million.
Kava is a decentralized lending protocol constructed on the Cosmos Community. The Kava system makes use of Cosmos to mint its USDX stablecoin every time crypto is deposited to the platform as collateral. Those that deposit crypto to assist the lending system are rewarded with weekly funds of KAVA.
KAVA is at present buying and selling for $0.86, 90% down from its all-time excessive with a market cap of $281,996,397.
Coinbase has continued quickly including new altcoins to its itemizing roadmap all through the bear market. CEO Brian Armstrong has mentioned that finally, the alternate goals to have as many crypto belongings as attainable on its platform, so long as they meet primary standards for issues like safety and legality.
“It’s form of like Amazon or one thing like that the place a product may need three stars or it may need 5 stars, but when it begins to get one star persistently, it’s in all probability fraudulent or faulty or one thing and perhaps Amazon will take away it. In any other case, you wish to let the market resolve what these items are…
My perception is there’s gonna be thousands and thousands of those belongings over time, and so I hope it doesn’t make information each time we add one sooner or later, principally.”
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