Exchange Giant Coinbase Adds Custody Support for 14 Ethereum (ETH)-Based Altcoins, Spurring Rallies Up to 20%

Top US-based crypto exchange platform Coinbase is expanding its suite of digital assets by adding custody support for over a dozen of Ethereum (ETH)-based altcoins.

Coinbase says it’s adding 14 new cryptocurrencies to the growing roster of virtual currencies in its Coinbase Custody cold storage trust.

Coinbase Custody, which launched in July 2018, is a crypto custodial service for wealthy and blue-chip investors located in New York that’s designed to give traders a safe way to store large amounts of digital assets.

The announcement had mixed results on the prices of the tokens, including cross-chain metaverse platform Ispolink (ISP), which went from $0.000776 to $0.00106, a 20% increase. ISP has since stabilized and is trading for $0.000815 at time of writing.

Next on the list is DeFi Yield Protocol (DYP), a decentralized ecosystem that offers solutions for yield farming and allows users to leverage trading tools. DYP went from $0.1601 to $0.1627 at time of writing, a 1.6% gain.

Other crypto assets that saw minimal gains on the day include music-based non-fungible token (NFT) builder Muse DAO (MUSE), network infrastructure provider Marlin (POND), blockchain data provider Parsiq (PRQ), multi-chain NFT farmer SuperFarm (FARM), interoperable protocol Synapse (SYN), and NFT curators XMON (XMON) and ImmutableX (IMX).

Digital assets that saw their prices fall after the announcement include financial services creator Chain (XCN), which saw a 7% dip during the last 24 hours, going from $0.057 to $0.53 at time of writing.

Others that saw slight decreases in price include StaFi (FIS), a protocol that aims to solve the contradiction between security and token liquidity within proof-of-stake consensus mechanisms and layer-2 scaling solution Metis (METIS).

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