One low-capitalization tier-1 altcoin that has recently been renamed is on the rise after abruptly receiving support from top US exchange platform Coinbase.
In a new announcement, Coinbase Assets say that it will add support for Gravity (G), formerly known as Galxe, an interoperable Ethereum (ETH)-based smart contract platform.
“Trading will commence on August 13, 2024 at or around 12:00 noon ET if liquidity conditions are met. Once there is sufficient supply of this asset, trading on our G-USD trading pair will commence in phases.”
News of the listing sent the digital asset soaring, as G went from a low of $0.0378 earlier in the day to a high of $0.0411, a gain of around 8%. G has since stabilized and is trading at $0.0398 at the time of writing.
Earlier this month, Coinbase added G to its listing roadmap, which was created in 2022 as a means to increase transparency and suppress asset lead.
G, which just rebranded itself in July with the support of crypto exchanges Binance and Crypto.com, aims to simplify cross-chain transactions by making them more secure and efficient.
At that point, blockchain developers will adopt technologies such as zero-knowledge proofs, new consensus mechanisms, and replay-driven architecture.
Last week, Coinbase also added support for two other multichain altcoins – interoperable layer-1 blockchain ZetaChain (ZETACHAIN) and cross-chain bridge Across Protocol (AVX) – causing them both to see price increases at that time.
Don’t miss a beat – Subscribe to receive email alerts straight to your inbox
Check price action
Follow us further X, Facebook And Telegram
Surf to the Daily Hodl mix
Featured image: Shutterstock/Den Rise/Sensvector