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The largest US crypto exchange platform has launched support for two little-known altcoins built on top smart contract platform Ethereum (ETH).
new publicationCoinbase said it will start trading NFT-focused SuperRare (RARE) and food supply chain platform TE-FOOD (TONE) on Tuesday once liquidity conditions are met.
SuperRare is an exclusive crypto art marketplace listing curated digital artworks by renowned NFT artists and creators. The marketplace started out as a centralized platform, until last year it introduced a governance token, RARE, and became a Decentralized Autonomous Organization (DAO).
Following Coinbase’s announcement, RARE hastily jumped 37%, giving up most of its gains as the overall crypto market fell as well.
At the time of writing, RARE is trading at $0.30 and has a market cap of just over $45 million.
TE-FOOD is a supply chain management system for emerging markets, integrating food industry companies, consumers and authorities into a platform. It claims to serve over 6,000 customers and process 400,000 transactions per day.
The project’s native ERC-20 token, TONE, has a market cap of just $18 million and is trading at $0.03 at the time of writing.
Both TONE and RARE have earned Coinbase’s “Experimental Asset” label. reserves A cryptocurrency new to the platform or a relatively small amount of cryptocurrency compared to other coins on the market.
Coinbase CEO Brian Armstrong said last week that the company aims to list as many cryptocurrencies as possible, as long as they are not fraudulent or dangerous. He also pointed out that listing from Coinbase does not necessarily imply endorsement of assets, much like Amazon and its vast product offerings.
“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 a scam or a defect 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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