As a seasoned researcher with a penchant for blockchain technology and its disruptive potential, I find the recent listing of Swell (SWELL) on Coinbase a fascinating development. The swift transition from an intent to list on Ethereum’s network to actual live trading on Coinbase iOS and Android apps is nothing short of impressive.
It’s thrilling news for the cryptocurrency enthusiasts as Coinbase has made it official that Swell (SWELL) will now be available on their platform.
Yesterday, it was revealed that Coinbase plans to incorporate Swell (SWELL) into the Ethereum network as an ERC-20 token.
Swell (SWELL) has been activated and is now accessible within the Coinbase iOS and Android applications, tagged as ‘Experimental’. This means that Coinbase users are able to purchase, sell, exchange, transfer, receive, or hold this digital asset.
— Coinbase Assets 🛡️ (@CoinbaseAssets) November 7, 2024
Following the unveiling of the listing, Coinbase confirmed that Swell (SWELL) has been activated on their platform. This means that it is now accessible via the Coinbase app for both iOS and Android devices, marked as “Experimental.” Users can trade, exchange, send, receive, or store this cryptocurrency with ease.
Swell Network arises as a decentralized, non-custodial platform that allows users to deposit Ethereum and receive passive income through blockchain incentives in the form of a liquid staking token (LST). This LST serves as a representation of the user’s staked assets along with any accumulated rewards. Users can then employ this token throughout the DeFi sector to garner extra returns.
The addition of SWELL to Coinbase signifies a significant achievement for the token. After the announcement, SWELL’s price and trade activity surged, mirroring investor anticipation. Currently, SWELL is trading at $0.045, representing a 29% increase over the past 24 hours. Moreover, in the same period, the 24-hour trading volume of SWELL has escalated by an impressive 285%, reaching $255 million.
Other Coinbase announcements
Furthermore, it’s worth noting that Coinbase has made cbBTC accessible to individuals residing in Germany and Singapore. This means Bitcoin owners in these areas can now utilize DeFi applications on both the Base and Ethereum platforms.
1-to-1 CBBC (short for Coinbase Backed Bitcoin Token), a Security Token Layer (SPL) asset that is fully collateralized with Bitcoin (BTC) stored securely by Coinbase, has debuted on the Solana network.
On November 14th, Coinbase is planning to incorporate Raydium perpetual futures into both the Coinbase International Exchange and the Coinbase Pro platform.
This week, the launch of Perpetual Futures for First Neiro on Ethereum took place on both Coinbase International Exchange and Coinbase Pro, whereas Apecoin’s launch concluded by the end of October.
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2024-11-08 17:00