Exchange Giant Coinbase Adds Custody Support for 14 Ethereum (ETH)-Based Altcoins, Boosting Rallies by Up to 20%
Leading US crypto exchange platform Coinbase is expanding its range of digital assets by adding custody support for over a dozen Ethereum (ETH)-based altcoins.
Coinbase says it is adding 14 new cryptocurrencies to the growing list of virtual currencies in its Coinbase Custody Cold Storage Trust.
Coinbase Custody, which launched in July 2018, is a New York-based crypto custody service for wealthy and blue-chip investors that aims to provide traders with a secure way to store large amounts of digital assets.
The announcement had mixed results with token prices including cross-chain metaverse platform Ispolink (ISP), which surged from $0.000776 to $0.00106, up 20%. ISP has since stabilized and is trading at $0.000815 at the time of writing.
Next on the list is the DeFi Yield Protocol (DYP), a decentralized ecosystem that provides yield farming solutions and allows users to leverage trading tools. DYP is up from $0.1601 to $0.1627 at the time of writing, up 1.6%.
Other crypto assets that saw minimal gains on the day include Muse DAO (MUSE), music-based non-fungible token (NFT) maker, network infrastructure provider Marlin (POND), blockchain data provider Parsiq (PRQ), and multi- Chain NFT farmer SuperFarm (FARM), the interoperable protocol Synapse (SYN), and NFT curators XMON (XMON) and ImmutableX (IMX).
Among the digital assets that saw prices fall following the announcement is financial services provider Chain (XCN), which is down 7% over the past 24 hours, falling from $0.057 to $0.53 at the time of writing.
Others that have seen slight price declines include StaFi (FIS), a protocol aimed at resolving the trade-off between security and token liquidity within proof-of-stake consensus mechanisms, and layer-2 scaling solution Metis (METIS ).
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