Two Ethereum Altcoins Go Ballistic After Getting Surprise Support From Coinbase

Two Ethereum (ETH)-based altcoins have surged in value following sudden support from Coinbase, the largest US cryptocurrency exchange.

coinbase yesterday Dropped Surprise support for Virtua Kolect (TVK) and DIMO Network (DIMO) in the metaverse ecosystem. This is a project aimed at allowing drivers to monetize data from their vehicles.

Coinbase says it will add support for TVK and DIMO on its Ethereum network on Tuesday once the appropriate liquidity conditions are met.

Following the listing news, TVK jumped 17.67% from $0.453 to $0.53 before correcting. At the time of writing, TVK has a market capitalization of approximately $51.3 million. DIMO is currently up 229% over the past 7 days, up about 58% since the announcement from Coinbase, and he is trading at $0.191 at the time of writing.

DIMO will be supported under Coinbase’s experimental label. This is a designation by which U.S. exchanges reserve low-volume crypto assets.

Coinbase continues to rapidly list new altcoin projects across the crypto bear market. CEO Brian Armstrong sees Coinbase as more like Amazon, but when it comes to crypto assets.

“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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