Ethereum-Based DeFi Protocol Rallies After Coinbase Announces Support for Trading

The native token of an Ethereum (ETH)-based decentralized exchange (DEX) is on the rise after being listed on the top US crypto exchange by trading volume.

Coinbase listed CoW Protocol (COW) for trading on Tuesday and the token soared from $0.28 to $0.32, a gain of more than 14% while most of the markets are down.

“Trading will begin on or after 9 a.m. PT on September 24th, 2024, if liquidity conditions are met. Once sufficient supply of this asset is established trading on our COW-USD trading pair will launch in phases. Support for COW may be restricted in some supported jurisdictions.”

COW is trading for $0.31 at time of writing.

The project says in a tweet that the Coinbase listing will benefit the ecosystem in a number of ways.

“CoW DAO’s (decentralized autonomous organization) mission is to make DeFi (decentralized finance) safe and seamless FOR ALL.

The Coinbase listing helps by:

  • Making COW more accessible.
  • Increasing liquidity and reducing price impact.
  • Introducing CoW DAO products to new users not yet familiar with MEV (maximal extractable value), intents or liquidity aggregation.

In sum, joining Coinbase enables CoW DAO to do more and go further with user-protective products like CoW Swap, CoW AMM ( automated market maker) and MEV Blocker.”

According to its website, CoW Protocol “is a fully permissionless trading protocol that leverages batch auctions as its price finding mechanism.”

Comments

Post a Comment

Popular posts from this blog

Binance Australia raided by regulator just weeks after Europe HQ raid

Binance Australia’s offices have been raided by the nation’s finance regulator in an ongoing investigation into unlawful derivatives dealings — just weeks after the crypto exchange’s offices in France were raided as part of a money laundering probe. The Australian Securities and Investments Commission (ASIC) searched Binance locations on Tuesday, according to Bloomberg. The outlet cited anonymous sources familiar with the matter, who chose to keep their identities concealed. An ASIC spokesperson said it could neither confirm or deny the reports. Binance stated that it’s “fully cooperating” with local authorities. The news comes after Binance Australia had its derivatives license revoked in April. According to ASIC, it’s investigating the “extent of consumer harms” caused by the crypto exchange to local users. ASIC is probing allegations of Binance incorrectly classifying retail and wholesale investors in its derivatives business. Binance Australia ’s fiat on-ramp services were sh
Read more

copycat Stars Arena patches exploit on Friend.tech following a financial drain

Image
The Stars Arena has made a significant announcement, revealing that malevolent forces have been siphoning funds through a cunning loophole. However, the team has swiftly taken action, successfully patching the contract to avert any further harm. As per reports circulating on social media, the Stars Arena Web3 social media platform on the Avalanche network has fallen victim to a malicious attack. This unsettling incident was brought to light by a Stars Arena user, Lilitch.eth, on October 5, who took to X (formerly Twitter) to declare that over $1 million had been lost as a result. The Stars Arena team has unequivocally acknowledged this audacious attack, characterizing it as nothing short of a “war” waged against their platform. Surprisingly, they assert that the actual losses incurred amount to a mere $2,000, affirming that they have successfully plugged the exploit . Stars Arena, much like the popular Friend.tech, empowers users to acquire “shares” in the form of tokenized assets
Read more

Toncoin (TON) Rallies 15% After Binance Listing: $10 Soon?

Image
The world’s largest crypto exchange by volume, Binance, has announced that it will begin spot trading for Toncoin (TON) from today. The development has led to a significant price rally for TON, which witnessed a 15% price bump following the news. The daily charts show that the asset is currently up by 8.4%. TON continues to glow red in the other time frames, falling 7.8% in the last week, 5.7% in the 14-day charts, and 14.2% over the previous month. Also Read: Toncoin (TON): The Telegram-Linked Crypto to Watch in 2024 Current Performance and Market Position Source: CoinGecko TON is currently the second-best performing cryptocurrency among the top 100 projects by market cap in the daily charts, following XRP. Recent Price Movements TON has displayed incredible performance this year. The asset was trading at around $2 in late February but has since risen to over $6. Based on the Telegram network, TON saw a significant price increase after integrating into the Telegram messaging platform.
Read more