Coinbase triggers 107% Altcoin explosion after listing slew of Ethereum-based crypto assets
A decentralized finance (DeFi) altcoin is on the rise after being added to Coinbase’s list of digital assets.
Coinbase said DeFi Yield Protocol (DYP) and five other Ethereum-based altcoins will begin trading with Tether (USDT) once appropriate liquidity conditions are met.
The DeFi Yield protocol aims to provide users with the ability to stake Ethereum (ETH), Binance Coin (BNB), and Avalanche (AVAX) to earn a fixed APR of 25% (Annual Percentage Rate).
The project’s website states that DYP is working on a wide range of products for the decentralized ecosystem, seeking to be “accessible to beginners and advanced users” through a combination of DeFi, non-fungible tokens (NFTs) and metaverse games. .
Also joining Coinbase is the HOPR data privacy protocol, which aims to solve what it calls Web3’s Achilles’ heel by obfuscating metadata to preserve transport-layer privacy.
As of this writing, HOPR is in the green nearly 5% on the day and changing hands for $0.13.
The next step is Math (MATH), a modular blockchain that develops a crypto wallet that goes beyond token storage by also meeting the needs of applications.
Another altcoin joining Coinbase is the PARSIQ (PRQ) blockchain transaction tracking protocol, which monitors blockchain events in real time and provides analytics options for a variety of industries.
The Ethereum-based PRQ token powers the project ecosystem. Holders can lend their tokens and earn passive income by participating in liquidity pools.
Elastos (ELA) is a decentralized, community-based ecosystem designed to harness the full potential of Web 3.0. The project offers tools for app developers and has designed a crypto wallet called Essentials.
Last on the list of new Coinbase assets is Aleph.im (ALEPH), a decentralized cloud computing tool that aims to simplify the implementation process for DeFi and Web3 users.
At the time of writing, Aleph.im is down nearly one percent and priced at $0.25.
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