2022-01-13 19:05:26

Crypto Giant Coinbase Abruptly Adds Four Ethereum Tokens, Sparking 296% Altcoin Rally

A surprise group of Ethereum-based tokens are heating up after a sudden listing by top US crypto exchange Coinbase.

In a new blog post, Coinbase says that two finance-focused altcoins and a pair of other crypto assets will start trading on Coinbase Pro once appropriate liquidity conditions are met.

Inverse Finance (INV) is an Ethereum token offering a suite of banking tools for decentralized finance. Founded in 2020 by a single developer, the project now operates as a decentralized autonomous organization with hundreds of active members.

Inverse Finance saw its price go vertical from $621.82 to as high as $822 after the Coinbase announcement. The altcoin is currently up 22.14% on the day and trading for $767.61.

Also getting the green light from Coinbase Pro is the decentralized borrowing platform Liquity (LQTY) which offers interest-free loans using Ethereum (ETH) as collateral.

Liquity initially spiked 62.3% from $5.12 to $8.31, and currently, LQTY is up 13.25% on the day to $7.91.

Next up is Propy (PRO), a platform that automates real estate transactions to save time and reduce the likelihood of fraud. The native token can be used to cover the cost of fees and contracts.

Propy jumped from $1.59 to $2.30 almost instantly after the Coinbase news broke, ultimately peaking at $2.61. PRO is currently up 53.14% on the day at $2.45.

Last on the list is the threat detection and anti-malware project PolySwarm (NCT). The native token rewards users who assist in the collection of cybersecurity data and insights. PolySwarm partners include Alibaba.com, Tylabs and SecureBrain.

PolySwarm skyrocketed from $0.026 to $0.103 in response to the listing, a 296% jump.

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Featured Image: Shutterstock/T Studio/Andy Chipus

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