Cryptocurrency exchange Coinbase is adding two new digital assets to its tradable altcoin listing roadmap as the market continues its downtrend.
new publication Via Twitter, the US-based exchange said it will add Avalanche (AVAX)-based BENQI (QI) and Cosmos (ATOM)-based Kava (KAVA) to its roadmap.
BENQI is a decentralized finance (DeFi) protocol consisting of BENQI Liquid Staking and BENQI Liquidity Market. QI is the project’s native token used for governance and utilities. You must vote on proposals made by the BENQI Decentralized Autonomous Organization (DAO).
At the time of writing, QI seems to have reacted positively to the Coinbase news, up 10% on the day and 21% over the past seven days. BENQI is trading at $0.0072 and has a market capitalization of just over $23 million.
Kava is a decentralized lending protocol built on the Cosmos Network. The Kava system uses Cosmos to create his USDX stablecoin whenever a cryptocurrency is deposited into the platform as collateral. Those who deposit cryptocurrencies to support the lending system will be rewarded with weekly payouts of KAVA.
KAVA is currently trading at $0.86, down 90% from its all-time high of $281,996,397 market cap.
Coinbase continues to rapidly add new altcoins to its listing roadmap throughout the bear market. Ultimately, CEO Brian Armstrong said the goal is to have as many crypto assets as possible on the platform, as long as they meet basic criteria such as security and legality. Said there was
“It’s like Amazon, you might have 3 stars or 5 stars on a product, but when you start getting 1 star consistently, it’s probably fraudulent or defective or something and Amazon Will remove it. Otherwise you’ll want to let the market decide what these are…
My guess is that there will be millions of these assets over time, so basically I hope every addition in the future doesn’t make the news. ”
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