Coinbase Triggers Explosive Rally for Ethereum-Based Altcoin As Exchange Announces Support for New Crypto Assets
One altcoin focused on privacy and scaling solutions is surging after being added to top US crypto exchange Coinbase’s roster of assets.
In an announcement, Coinbase says Marlin (POND) will start trading on Coinbase Pro paired with Tether (USDT) once appropriate liquidity conditions are met.
Marlin is a high-performance “layer-zero” blockchain network that’s geared toward delivering high-quality infrastructure for the decentralized web.
Calling itself “the unglamorous underbelly of the decentralized economy,” Marlin seeks to provide solutions for scaling and user privacy.
The Marlin Foundry offers users the ability to leverage bandwidth and launch several types of networks.
News of the Coinbase listing sent Marlin jumping by 61% from $0.0073 to $0.011.
POND has corrected somewhat but remains up 11.4% on the day and priced at $0.010.
Next up is the privacy-focused Automata (ATA) which provides middleware for decentralized applications (DApps) in the Web 3.0 environment.
According to the project website, Automata offers several products:
“Conveyor (a MEV [Maximal Extractable Value] Minimization solution), Witness (a customizable voting service for decentralized applications) and Librarian (do-not-track indexing).”
Automata is also surging, up by 38.4% from a day ago and currently trading for $0.18.
Also joining Coinbase is Mines of Dalarnia (DAR), a 2D blockchain-based video game where players dig into the earth to acquire resources that can be used for in-game upgrades.
Mines of Dalarnia is up 7.6% on the day and trading for $0.31.
Last on the list is the decentralized finance (DeFi) protocol StaFi (FIS) which aims to unlock the liquidity of staked crypto assets.
The project boasts over $25.5 million of staked assets, employing the rToken which stands for reward-token to facilitate user rewards.
“When users stake PoS [proof-of-stake] tokens through StaFi, they will receive an equal amount of rToken in return. For example, rAtom represents staked Atom, while rXTZ represents staked XTZ. rToken allows users to receive staking rewards and access liquidity any time by trading rTokens directly. Users also have the right to redeem the corresponding amount of staked tokens at any time.”
At time of writing, StaFi is in the green by 12.29% with a going rate of $0.35.
While SFI is off its Monday weekly low of $0.27, it has yet to recapture the high of $0.39 last touched on June 9th.
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