By The Daily Hodl - 1 year ago - Reading Time: 3 minutes
Coinbase Ignites Crypto Rallies After Listing Several Altcoins Built on Ethereum and Solana
A decentralized media-sharing ecosystem built on Solana (SOL), plus several altcoins built on Ethereum (ETH) are surging after being added to top US crypto exchange Coinbase’s roster of digital assets.
In an announcement, Coinbase says Media Network (MEDIA) and four other cryptocurrencies will start trading paired with Tether (USDT) once appropriate liquidity conditions are met.
Media Network is a new type of content delivery network (CDN) that harnesses the power of decentralized peer-to-peer (P2P) streaming to provide bandwidth-on-demand while always maintaining user privacy by never requiring sign-ups or personal information to participate.
The project is part of the Solana (SOL) ecosystem, and users can earn the MEDIA token for contributing spare bandwidth.
Media Token is up 10.74% and trading for $26.57.
Also rallying is layer-2 scaling solution Metis (METIS). The Metis protocol aims to offer lower fees and faster transaction times than Ethereum (ETH), while still retaining the security of the leading smart contract platform.
Native token METIS can be used for staking and internal payments, but also serves an important function within the Metis Virtual Machine (MVM) during the creation of a decentralized autonomous company (DAC).
Metis is up in a big way, in the green by 23.16% on the day and priced at $0.0075.
Also joining the Coinbase roster is Monavale (MONA), native token of Digitalax which enables users to custom design digital clothing in the form of non-fungible tokens (NFTs).
The project brings Creative Commons (CC0) licensing to fashion for the Web 3.0 internet, saying in a blog post its long-term goal is to become “the digital fashion NFT house for all gaming, VR [virtual reality] and metaverses in the crypto ecosystem.”
Monavale is up over 12% on the day and priced at $666.66.
Coinbase will add support for Chain (XCN), MetisDAO (METIS), Monavale (MONA), and AirSwap (AST) on the Ethereum network (ERC-20 token) and Media Network (MEDIA) on the Solana network (SPL token). Do not send this asset over other networks or your funds may be lost. pic.twitter.com/M1PfwEARX8
— Coinbase Assets (@CoinbaseAssets) June 27, 2022
AirSwap (AST) is another blockchain project that harnesses P2P, notably as a decentralized token trading network that has no order books or trading fees. The project was founded as a joint venture by ConsenSys and Fluidity.
At time of writing, AirSwap is soaring by nearly 26% with a market price of $0.106.
Last on the list of new Coinbase crypto assets is the Ethereum-based cloud blockchain protocol Chain, whose native token XCN provides governance and utility.
The company recently announced that it is continuing to hire new employees despite widespread stagnation in the crypto markets, plus Chain said it had burned a staggering $2.6 billion worth of XCN, more than 22% of the token’s total supply, under a new governance shift.
Currently, Chain is down less than a percent and priced at $0.086.
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