The largest crypto exchange in the United States has just rolled out support for two under-the-radar altcoins built on the Ethereum smart contract platform (ETH).
SuperRare is an exclusive crypto art marketplace that lists a curated selection of digital artwork from top NFT artists and creators. Its marketplace started as a centralized platform until last year when it introduced RARE, its governance token, and evolved into a decentralized autonomous organization (DAO).
Following Coinbase’s announcement, RARE rebounded 37% in a rush before giving up most of its gains as global crypto markets also fell.
At the time of writing, RARE is trading at $0.30 with a market capitalization of just over $45 million.
TE-FOOD is a supply chain management system for emerging markets, integrating businesses, consumers and food industry authorities into its platform. It claims to serve over 6,000 customers and handles 400,000 transactions per day.
With a market cap of just $18 million, TONE, the project’s native ERC-20 token, is trading at $0.03 at the time of writing.
TONE and RARE both get the “Experimental Asset” label from Coinbase than the exchange reservations for cryptocurrencies new to the platform or with relatively low volume compared to other coins in the market.
Last week, Coinbase CEO Brian Armstrong said that the exchange aimed to position itself to list as many cryptocurrencies as possible, as long as they are not fraudulent or dangerous. He also pointed out that a Coinbase listing does not necessarily mean an endorsement of the asset, similar to Amazon and its extensive product offerings.
“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. If not, you want to let the market decide what these 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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