Coinbase, one of the leading cryptocurrency exchanges, announced its decision to list 2 important altcoins. The stock market lists 2 projects in the top 50 by market value.
Coinbase lists 2 new altcoins
Coinbase has announced that it will list Convex Finance (CVX) and Ocean Protocol (OCEAN) tokens. CVX and OCEAN transactions will be active from September 8. Meanwhile, both cryptocurrencies are listed on the USD pair.
Assets added to the roadmap today: Convex Finance (CVX), Ocean Protocol (OCEAN),
Pundi X (PUNDIX), Injective (INJ), Audius (AUDIO), and XMON (XMON): https://t.co/zu1IBdrD7X— Coinbase Assets (@CoinbaseAssets) September 6, 2022
Has the news of the Coinbase listing been effective this time?
Convex Finance (CVX) is the 94th largest cryptocurrency by market cap. It is currently trading at $5.14, down around 3% over the past 24 hours. Unlike the OCEAN token, the CVX price failed to efficiently capitalize on the Coinbase listing news. Although initially rallying around 5%, CVX has returned most of that gain.
Ocean Protocol (OCEAN) gained more than 10% after the news of the listing. OCEAN is currently moving with strong momentum towards the $0.2 resistance. Ranked 173rd by market cap, the altcoin has been on the decline since April 2021. During the process, it fell by 90% from the $1.94 ATH price to $0.011351.
In the continuation of the article, let’s take a brief look at the altcoin projects that will be traded on Coinbase as of September 8. As you follow from Kriptokoin.com, the listing news of the stock market usually causes sudden peaks in prices. The most recent examples are Convex Finance (CVX) and Ocean Protocol (OCEAN).
What is Convex Finance (CVX)?
CVX is the native cryptocurrency of the Convex platform. Proportionally printed for each CRV requested on Convex Finance by Curve’s liquidity providers. The token offers its holders a share of Convex platform fees. CVX can be staked on Convex Finance to earn cvxCRV, which provides a share of Curve LP’s CRV earnings and fees. As the Convex platform increases revenue, more value will be distributed to cvxCRV holders. In the future, CVX holders will also be able to vote for the management mechanism of Convex Finance.
About the Ocean Protocol (OCEAN)
Ocean Protocol connects data providers and data consumers on a Blockchain-based platform. Its innovative model relies on tokenizing datasets and data services so that data providers can easily and efficiently monetize their data and consumers can access an ecosystem of valuable data from one convenient place. Data providers create an ERC-20 token, called datatoken, which provides access to data that can be purchased through the Ocean Protocol’s OCEAN token, which is also used to provide staking rewards.
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