Coinbase Adds New Altcoins

Top US-based crypto exchange platform Coinbase is adding three new Ethereum (ETH)-based altcoins to its suite of products, causing the assets to skyrocket.

In a new announcement on the social media platform X, Coinbase says it’s adding support for:
– AltLayer (ALT): A decentralized roll-up protocol.
– Pendle (PENDLE): A decentralized finance network.
– Layer3 (L3): A gamified learning platform.

These additions come nearly a week after they were first listed on Coinbase’s roadmap, and the news sent all three altcoins soaring.

Market Reactions

• AltLayer (ALT): The protocol, which enhances scalability through rollups, rose from a low of $0.037 on March 26th to a high of $0.041 a day later. As of now, it is trading at $0.0407, marking an 8.3% gain for the day.

• Pendle (PENDLE): This project tokenizes yields and climbed from $2.83 to $2.99 during the same timeframe. It is currently trading at $2.95, reflecting a 3.7% gain in the last 24 hours.

• Layer3 (L3): This program teaches users about Web3 through interactive games. It increased from a low of $0.087 to a peak of $0.106 just a day later. L3 is presently priced at $0.104, showcasing a 17.5% gain during the day.

Coinbase initially added these altcoins to its listing roadmap on March 21st to enhance transparency and prevent front-running of new tokens, which also caused a rally in these digital assets at that time.