According to a Wednesday announcement, Coinbase has opened up transfers for a series of three new tokens, including Aventus (AVT), Render Token (RNDR), and QuantStamp (QSP). As per the announcement, trading of new tokens will commence once the liquidity conditions are met.
Key takeaways:
- The newly supported tokens will initially be traded in trading pairs with USD, EUR, and USDT. The order book will launch in three phases. The auction and limit-only modes will be the first to launch, with full trading coming at a later time.
- Aventus is a layer-2 scaling solution for the Ethereum network that can process transactions at up to 100 times the speed and 1% of the cost. The price of AVT remained essentially flat following the listing.
- The second crypto project to have been listed is Render Token, a decentralized GPU-based rendering solutions provider. While RNDR is trading 5.3% down for the day at the time of this writing, the token has performed exceptionally well over the past seven days and gained more than 30% throughout the past week-long period.
- Quantstamp is a blockchain security firm that specializes in crypto audits and has secured more than $200 billion in value to date. Out of the trio of newly-listed coins, QSP was by far the biggest benefactor of Coinbase support – the crypto gained nearly 40% on the news and is currently up more than 120% over the last seven days.
- Coinbase has dramatically increased the pace at which it lists new digital assets as of late. CEO Brian Armstrong tweeted last June that the company’s aim “is to list *every* asset where it is legal to do so.”
- Earlier this week, Coinbase listed Bonfida (FIDA) and Orca (ORCA), Solana-native tokens, and the first coins listed on the exchange that were not either the native assets of layer-1 blockchains or Ethereum-based.
- Accounting for the latest listings, Coinbase now supports more than 150 different digital assets accounting for the latest listings. However, the publicly traded exchange still trails behind some of its biggest rivals. Binance and OKX, for instance, both support more than 300 types of digital currencies.
