An under-the-radar altcoin is skyrocketing after being added to Coinbase’s roadmap.
A new thread on social media platform X features top US exchange platform Coinbase announce the addition of the decentralized finance (DeFi) protocol Moonwell (WELL) to its product suite.
News of the addition took WELL from a seven-day low of $0.0124 on September 5 to a high of $0.0173 just a day later, a gain of about 40%. The crypto asset has since been recovered and is trading at $0.0170 at the time of writing.
Coinbase’s listing roadmap was created in 2022 to increase transparency and prevent pre-emption of token launches.
Moonwell, which was built on Base – Coinbase’s own blockchain – and on the smart contract parachains Moonbeam (GLMR) and Moonriver (MOVR), was launched in 2022 as an open lending and borrowing platform. Moonwell is also interoperable with Ethereum (ETH) layer-2 scaling solution Optimism (OP).
Earlier this week, Coinbase also announced that it would add support for POL, the long-awaited rebranding of the Polygon token formerly known as MATIC, to its arsenal of digital assets with an experimental label, meaning it has high volatility or low trading volume might experience. .
It was previously announced that POL and MATIC would not co-exist and that the Polygon community could vote to expand POL’s usefulness.
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Featured image: Shutterstock/Giordano Aita
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