Coinbase recently made a public announcement about the addition of a new token to the offering plan for their cryptocurrency exchange. This particular Coinbase news is a direct result of the exchange’s primary mission, which is to serve as a connection to the world of Web3. While the specific date of the offering has not yet been made public, it is expected to be within weeks.
Coinbase’s latest addition
The California-based crypto exchange is in the process of expanding its range of tradable assets by adding the NFT-based crypto game “Voxies”. The project’s native cryptocurrency, VOXELS, is a polygon-based utility token that allows players to purchase weapons, armor, and other in-game items.
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Users of Voxies, the role-playing project built on blockchain technology, can play Voxie Tactics and make use of the VOXEL token, increasing their chances of winning rewards in the process. With a circulating supply of 103 million tokens, the digital asset recently saw a significant price increase following the coinbase announcement. VOXEL is currently trading at $0.385, representing a 23.73% growth over the last 24 hours as opposed to a gain of 17.38% over the past seven days.
The centralized exchange also announced a few days ago that it would add Liquid Staked ETH or LSETH token for short, with a market cap of $5.6 billion. Previously, it added ERC-20-based cryptocurrencies Audius (AUDIO), Threshold (T) and Axelar (AXL) to its portfolio after adding them to its listing roadmap.
Coinbase listing details
The crypto tokens that an exchange like Coinbase adds to its roadmap are the ones it plans to support on its platform in the near future. However, transfers and exchanges of these assets are not yet supported until an official listing is made. Despite Coinbase stating that coins on the roadmap list may still be removed or not included at all for various reasons, certain altcoins will eventually be added to the list of supported cryptoassets.
Coinbase recently announced that it would continue with the official listing of the Axelar (AXL) token. And according to the official announcement, trading was set to begin on February 7 at 9 a.m. PT. AXL will initially be pegged to USD for trading, with future integrations in the pipeline.
Coinbase adds support for Axelar (AXL) on the Axelar network. Do not send this item through other networks or you may lose your money. Inbound transfers for this asset are available at @ Coinbase & @CoinbaseExch in the regions where trade is supported.
— Coinbase Assets (@CoinbaseAssets) February 6, 2023
The Coinbase Roadmap was designed with the goal of reducing insider trading and increasing transparency around the exchange’s listing process.
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Pratik has been a crypto evangelist since 2016 and has experienced almost everything crypto has to offer. Be it the ICO boom, the bear markets of 2018, Bitcoin’s halving so far – he’s seen it all.
The content presented may contain the personal opinion of the author and is subject to market conditions. Do your market research before investing in cryptocurrencies. The author or publication is not responsible for your personal financial loss.
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