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Coinbase, the top US cryptocurrency exchange, has begun supporting lesser-known small altcoin projects and has also announced the delisting of several other coins.
coin base announced It said via Twitter that it plans to add support for wrapped Axelar (WAXL) on the Ethereum (ETH) network, if sufficient liquidity conditions are met.
Axelar (AXL) aims to provide secure cross-chain communication so that decentralized application (DApp) users can interact with various assets or applications on any blockchain.
Coinbase is adding support for a wrapped version of AXL, an ERC-20 token tied to the AXL price that allows users to use the token on the Ethereum network.
According to Axelar’s website, the project is backed By Coinbase Ventures, the venture capital arm of Coinbase. It is also supported by industry giants such as Binance, Galaxy Digital and Polychain Capital.
At the time of writing, AXL’s market cap is unknown, but it is trading at $0.83, with a total supply of 1,012,584,088, according to coin gecko.
WAXL has been added to Coinbase’s roster under the “experimental” label, designated as a new or risky crypto project with low liquidity and potentially high volatility.
As WAXL gets the nod from Coinbase, the exchange will also delist four other crypto assets.
coin base announced mStable (mUSD), a stablecoin project; Rari Capital Governance (RGT), a native token of Rari Capital, a DeFi protocol; TRIBE, a governance token of Fei Protocol; and Pawtocol (UPI), a crypto community of pet lovers. stop trading.
We regularly monitor the exchanges assets to ensure they meet our listing criteria. Based on the latest review, Coinbase will launch MUSD, We are suspending trading on RGT, TRIBE and UPI.”
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