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- Coinbase recently announced that it is expanding its suite of digital assets with the help of custody support.
- Now, the Coinbase Custody will support 14 Ethereum (ETH)-based altcoins.
On October 26, 2022 the global crypto exchange platform, Coinbase posted that Coinbase Custody will support deposits and withdrawals for 14 new assets. And the availability of all these assets may be restricted based on custodian entity and customer jurisdiction.
In the twitter thread, Coinbase replied and named 14 new assets that are CBETH, DYP, FIS, GUSD, IMX, ISP, METIS, MUSE, POND, PRQ, SUPER, SYN, XCN, and XMON.
The Tokens Reaction
After the following announcement, the tokens have received mixed reactions on its prices that include cross-chain metaverse platform, Ispolink (ISP,) that noted an increase of 20% from $0.000776 to $0.00106. However, the native token of Ispolink, ISP is currently trading at a price of $0.000735 USD with a down of 7.14% in the last 24 hours.
Adding to the list is DeFi Yield Protocol (DYP,) a unique platform that offers solutions for yield farming, staking, NFTs and enables users to leverage the advanced trading tools of the DYP. The token goes up from $0.1593 to $0.1645 at the time of writing. It is currently down 0.89% in the last 24 hours.
However, the other crypto assets saw minimal gains on the day including the governance token of nft20.io, MUSE, A high-performance programmable network infrastructure provider Marlin, POND, the next-gen platform for blockchain technology Parsiq (PRQ), Multi-chain NFT farmer SuperFarm (FARM), Interoperable protocol Synapse (SYN), and NFT curators XMON (XMON) and ImmutableX (IMX).
On the other hand, the announcement did not seem favorable for some of the digital assets that saw its prices drop after the announcement. The coins that face the price drop after the announcement includes Cloud blockchain infrastructure, Chain (XCN), that noted a 1.33% dip in the last 24 hours, going from $0.057 to $0.051 at time of writing.
In addition, some tokens that noted slight decreases in its price are StaFi (FIS), the first DeFi protocol unlocking liquidity of staked assets and Metis (METIS), layer 2 scaling solution.
Coinbase Custody
Coinbase was founded in 2012 in San Francisco and has offices in Portland, Chicago, New York, London, Dublin, and Tokyo. It serves over 25 Million individuals, businesses, investors, and nonprofits in more than 33 Countries.
Coinbase Custody is an independent, NYDFS-regulated firm that offers institutions access to the custody solution with underpinned Coinbase for more than six years. It was launched in 2018 to address the security, regulatory, and operational challenges posed by the crypto industry.
Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.
