Coinbase Announces Support for Little-Known Ethereum Scaling Altcoin and Mid-Cap Stablecoin Project

Alongside stablecoin on the exchange, the Layer 2 scaling solution has joined the list of digital assets on Coinbase, the top cryptocurrency exchange in the United States.

Coinbase To tell The Boba Network (BOBA) and Gemini USD (GUSD) will begin trading in pairs with Tether (USDT) once appropriate liquidity conditions are met.

Boba Network takes advantage of optimistic rollups. This is a less rigorous, data-intensive transaction validation method than traditional zero-knowledge rollups. The native token BOBA can be used for governance and staking.

This project was developed to empower decentralized application (DApps) developers built on Ethereum (ETH).

Boba Network experienced a roller coaster pricing action this week. It jumped 35.2% from Tuesday’s low of $ 0.34 to the highest of $ 0.46 when Coinbase listing news was first announced.

BOBA has since been revised and is now down 17.6% and is trading at $ 0.36 at the time of writing.

Coinbase will add support for the Boba Network (BOBA) and Gemini USD (GUSD) on the Ethereum Network (ERC-20 token). Do not send this asset over any other network. Remittances can result in loss of funds. pic.twitter.com/jjB92ytYVb

Coinbase Assets (@CoinbaseAssets) June 29, 2022

Participating in Coinbase is Gemini USD, a stablecoin created by the Gemini cryptocurrency exchange, with the goal of fixing its value to the US dollar.

According to the project WebsiteNot only can users exchange dollars for GUSD on a one-to-one basis, but they can also use altcoin to exchange for other crypto assets on the Decentralized Exchange (DEX).

Currently, the value of the Gemini dollar is $ 0.98, which is slightly lower than $ 1.

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Featured images: Shutterstock / herryfaizal / AlexRoz