BitcoinWorld

Blockchain News

Little-Known Ethereum Altcoin Soars 106% After Receiving Surprise Boost From Coinbase

A small-cap altcoin project based on Ethereum is on the rise after receiving a significant boost from Coinbase.

Threshold (T) has been added to the crypto giant’s listing plan.

The announcement indicates that Coinbase would likely add the coin to its global exchange in the near future.

Last year, Coinbase devised a listing roadmap to promote openness and decrease the chance of insiders being able to foreshadow their listing announcements.

The announcement caused a 106% spike in the price of T, from a 24-hour low of $0.0245 to a high of $0.0507.

Threshold’s team claims to be developing a suite of crypto services that would empower user sovereignty on the blockchain.

One of its initial projects is a decentralised bridge that allows Bitcoin holders to transfer their BTC to the Ethereum network via the pegged asset tBTC.

Coinbase has also announced that the decentralised music streaming service Audius (AUDIO) would be added to its listing plan.

This announcement caused AUDIO to gain 15% in price, from a 24-hour low of $0.1911 to a high of $0.2209.

Despite the fact that both coins have been added to Coinbase’s listing roadmap, neither asset is guaranteed to be listed on the exchange.

They must first pass the company’s evaluation process, which is overseen by the Digital Asset Listing Group, an internal group.

 

Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. Crypto is not a legal tender and is subject to market risks. Readers are advised to seek expert advice and read offer document(s) along with related important literature on the subject carefully before making any kind of investment whatsoever. Crypto market predictions are speculative and any investment made shall be at the sole cost and risk of the readers.