Cryptocurrency Exchange, Coinbase, Adds Four New Digital Currencies to Its Platform in a Single Day - Details Revealed
Coinbase, the leading cryptocurrency exchange, has announced the listing of four new digital assets, among which dYdX (COSMOSDYDX) on the Cosmos ecosystem is set to go live soon. The other tokens included in the list are Towns Protocol (TOWNS), Succinct (PROVE), Euler (EUL), and Mamo (MAMO).
The trading for dYdX (COSMOSDYDX) is expected to commence on Coinbase, pending the fulfillment of liquidity conditions and the readiness of technical infrastructure. The exact date for the launch of trading for dYdX has not been declared yet, but it is expected to happen soon.
In a significant move, dYdX has migrated from Ethereum to the Cosmos SDK, becoming a sovereign Layer-1 blockchain on the Cosmos ecosystem. This move enhances scalability and customizability for derivatives trading. The trading pair COSMOSDYDX-USD will be rolled out, enabling users to buy, sell, and store the token.
The listing has positively impacted the token price, with a 3.7% rise in dYdX and a 3.4% increase in Cosmos’ native token ATOM, reflecting investor confidence in the Cosmos ecosystem and DeFi innovation.
It is important to note that the geographical access for these new listings, including dYdX (COSMOSDYDX), may be restricted in certain regions based on regulatory compliance. Coinbase has clarified that the exchange may restrict access to these tokens in specific jurisdictions.
Trading for PROVE and TOWNS is currently live and available on the Coinbase website and mobile apps (iOS and Android). However, the exact geographical access for these new listings was not detailed in the announcement. Similarly, the regulatory status of these new cryptocurrencies in the regions where they are available remains undisclosed.
Trading for some of the tokens, including MAMO and EUL, is still pending as they are dependent on meeting the exchange's liquidity conditions. The trading platform typically operates in the U.S. region, but the exact geographical access for these new listings was not detailed in the announcement.
Other crypto trading exchanges, such as Binance and Bybit, have also listed Towns Protocol (TOWNS) for trading. The launch of trading for dYdX (COSMOSDYDX) is expected to happen soon, adding another feather to Coinbase's cap as a leading cryptocurrency exchange.
The Base network by Coinbase, where TOWNS and MAMO debut, has raised concerns due to the stalling of block 33792704. Despite this, Coinbase has added dYdX (COSMOSDYDX) to its roadmap for future listings, indicating a positive outlook for the token on the platform.
References:
- Coinbase Blog Post
- CoinMarketCap Article
- Decrypt Article
- CoinDesk Article
- CoinTelegraph Article
- Pending the fulfillment of liquidity conditions and the readiness of technical infrastructure, the trading for dYdX (COSMOSDYDX) will commence on Coinbase.
- The listing of Towns Protocol (TOWNS) and Succinct (PROVE) on Coinbase is currently live for trading, but the exact geographical access for these new listings was not detailed in the announcement.
- In addition to Coinbase, other crypto trading exchanges like Binance and Bybit have also listed Towns Protocol (TOWNS) for trading.
- The Base network by Coinbase, where TOWNS and MAMO debut, has raised concerns due to the stalling of block 33792704, yet Coinbase has added dYdX (COSMOSDYDX) to its roadmap for future listings.
