Coinbase Reveals Support For These 4 Cryptos; Will Prices Rally Ahead?

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As a seasoned researcher and crypto enthusiast with over a decade of experience in this ever-evolving digital frontier, I find myself consistently intrigued by the dynamic nature of the cryptocurrency market. Today’s announcement by Coinbase to list four new digital assets is yet another testament to the industry’s unrelenting growth and expansion.

Coinbase, a well-known cryptocurrency exchange, is planning to add four fresh digital currencies to their platform, thereby increasing the number of cryptos that can be traded there.

As an analyst, I’m excited to share that several new tokens have been added to our supported list. These include CoW Protocol (COW) on Ethereum, Moonwell (WELL) on Base, Catizen (CATI) perpetual futures on Coinbase International, and the debut of Zetachain (ZETA) trading. This announcement is likely to influence the trading volume of these assets across different platforms.

Coinbase Reveals Support For CoW Protocol

Starting soon, digital currency platform Coinbase will enable transfer functionality for CoW Protocol (COW) on the Ethereum blockchain as an ERC-20 token. As per Coinbase’s official statement, users are advised to refrain from sending this token through any other networks, since doing so might lead to the unfortunate loss of funds.

Coinbase is going to enable compatibility with CoW Protocol (COW) using the Ethereum network, which operates under the ERC-20 standard token. To avoid potential loss of funds, please refrain from sending this asset through any other networks. Transfers for this specific asset can now be made via both @Coinbase and @CoinbaseExch in regions where trading is currently supported.
— Coinbase Assets (@CoinbaseAssets) September 23, 2024

The COW-USD exchange begins on September 24, 2024, at 9 AM Pacific Time, assuming all necessary liquidity requirements are fulfilled. Once the asset’s supply is adequate, trading will commence in stages, but some limitations may apply in areas where trade is restricted.

Moonwell Launches on Base Network

Starting from September 24, 2024, the cryptocurrency platform will begin trading for Moonwell (WELL) on their Base network. The ERC-20 token of WELL will be transferable on both our platforms prior to this date. However, trading can only commence once the necessary liquidity conditions are fulfilled.

Just like the COW model, trade will progress in stages, and some regions may encounter limitations or restrictions.

Coinbase is going to enable Moonwell (WELL) on the Ethereum network as an ERC-20 token. Please make sure not to transfer this asset over any other networks, or your funds could be at risk. Transfers for this asset can now be made through both @Coinbase and @CoinbaseExch in regions where trading is supported.

— Coinbase Assets (@CoinbaseAssets) September 23, 2024

Adding WELL to the crypto exchange demonstrates the platform’s dedication to increasing its selection of tokens on emerging blockchain networks such as Base, thereby strengthening its backing for decentralized finance (DeFi) initiatives. Over the past 30 days, the price of Moonwell reached a peak of $0.03642. At this moment, the WELL price is being traded at $0.03595, representing a 25% rise from its lowest point during the day.

Catizen Perpetual Futures to Be Offered

At the same time, it has been announced that Coinbase International Exchange is launching perpetual futures for a recently introduced token called Catizen (CATI). Starting from 9:30 AM UTC on September 26, trading of CATI-PERP can begin. This new futures market will be accessible on both the Coinbase International Exchange and its Advanced trading platforms.

In the world of cryptocurrencies, perpetual futures contracts are quite common. These allow traders to predict price changes without actually having the physical currency themselves.

After Coinbase’s update about its listing, the price of CATI showed significant fluctuations. Immediately following this announcement, there was a 7% increase in its price to reach $0.8368, but it soon dropped back down to $0.802. This rollercoaster-like behavior is typical of meme tokens within the cryptocurrency market.

As a crypto investor, I’m excited to share that I can now trade, buy, sell, convert, and store Zetachain (ZETA) on my preferred crypto exchange’s platform, whether it’s their website or mobile apps. The launch of the trading pair for ZETA-USD was preceded by an auction phase, allowing users like me to place limit orders and influence the opening price for trades. At the moment of press, the price of ZETA has shown a positive reaction, increasing by 4% to $0.6617.

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2024-09-23 21:56