Coinbase Triggers 348% Explosion in Low-Cap Ethereum Project After Giving Surprise Support

Cryptocurrency exchange Coinbase sparked a massive rally with its low-cap Ethereum-based altcoin after suddenly offering support to the project.

coin base announced The exchange announced via Twitter that it now supports 00 Token (POOLS) on the Ethereum network.

00 Token is the governance token behind the ZeroZero DAO (Decentralized Autonomous Organization) project, a decentralized community of Creator Social Tokens.

00 is an ERC-20 token for the P00LS ecosystem and decentralized exchange (DEX) that supports social token distribution and trading. 00 can also be used for governance and access to certain functions of his P00L.

Football legend Ronaldinho recently launched his own social token RON on the P00LS platform. Besides athletes, the project is aimed at artists, musicians, influencers, curators, tastemakers and brands. white paper.

After launching on Coinbase, 00 Token surged from $0.37 to $1.66 within hours, a 348% increase.

00 has cooled, but retained most of its gains. At the time of writing, 00 is currently trading at $1.12, up 202% in the last 24 hours.according to coin market capitalizationThe 00 token has a market cap of just over $38 million at its current price, with a 24-hour trading volume of around $18 million.

Ethereum-based altcoins are listed under the Coinbase Experimental label. add For new projects with low liquidity and high risk.

Earlier this year, Coinbase CEO Brian Armstrong said the company ultimately aims to support as many tokens as possible, as long as they meet basic security standards.

“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 it’s probably 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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