Coinbase Announces Support For Three Ethereum (ETH) Altcoins, Triggering Multiple Crypto Rallies

Crypto exchange Coinbase has announced support for three Ethereum (ETH)-based altcoins as the digital asset market faces continued downward pressure.

According to an announcement from Coinbase, it is to add Injective Decentralized Exchange (DEX) Protocol (NJI), focused on retail Pundi X (PUNDIX), and the XMON non-fungible token (NFT) platform (XMON) to its trading list once ideal liquidity conditions are met.

All three crypto assets were included in Coinbase’s latest update to its listing roadmap earlier this month, which it created as a way to increase transparency and eliminate the potential for crime. insider.

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Following the announcement, each altcoin made modest rallies before consolidating or correcting with the broader crypto markets.

INJ managed a 9.42% rally before falling back, and is now priced at $1.55 with a market cap of $121 million. PUNDIX sparked a strong 30% rally from $0.46 to $0.60 and is now changing hands for $0.53 with a market cap of $138 million, while XMON was mostly trading at flat, bouncing about 3% before correcting.

Last month, Coinbase CEO Brian Armstrong said the exchange’s ultimate goal is to list as many crypto assets as possible, as long as they meet certain security and legitimacy criteria.

“It’s kind of like Amazon or something where a product might have three stars or five stars, but if it starts getting one star consistently, it’s probably fraudulent or faulty or something and maybe Amazon will remove it. Otherwise, you want to let the market decide what those things are…

My belief is that there will be millions of these assets over time, so hopefully it won’t make the news every time we add one in the future, basically.

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Coinbase Announces Support For Three Ethereum (ETH) Altcoins, Triggering Multiple Crypto Rallies

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