The native token of an Ethereum (ETH)-based decentralized exchange (DEX) is on the rise after being listed on the top US crypto exchange by trading volume.
Coin base mentioned CoW Protocol (COW) for trading on Tuesday and the token rose from $0.28 to $0.32, a gain of more than 14% while most markets fell.
“Trading will begin on or after 9:00 a.m. PT on September 24, 2024, if liquidity conditions are met. Once there is sufficient supply of this asset, trading on our COW-USD trading pair will commence in phases. Support for COW may be limited in some supported jurisdictions.”
COW is trading at $0.31 at the time of writing.
The project say in a tweet that the Coinbase listing will benefit the ecosystem in a number of ways.
“The mission of CoW DAO (decentralized autonomous organization) is to make DeFi (decentralized finance) secure and seamless FOR EVERYONE.
The Coinbase list helps by:
- Making COW more accessible.
- Increasing liquidity and reducing price impact.
- Introducing CoW DAO products for new users new to MEV (maximum extractable value), intents, or liquidity aggregation.
In short, by joining Coinbase, CoW DAO can do more and move forward with user protection products such as CoW Swap, CoW AMM (automated market maker) and MEV Blocker.”
According to his websiteCoW Protocol “is a completely permissionless trading protocol that uses batch auctions as a price discovery mechanism.”
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Generated image: Midjourney