Coinbase, the leading US crypto exchange, said the potential of 19 new cryptocurrencies has been explored to add to its platform.
The Rise of DeFi Crypto Coins Continues
Most cryptocurrencies the firm has evaluated have ties to decentralized finance (DeFi) designed to combine traditional financial services with decentralized technologies such as Blockchain technology and smart contracts.
The impressive growth of the DeFi industry plays a major role in this announcement. According to the website DeFiPulse.com, the DeFi market now had a volume of $ 1.83 billion on July 1, now it is over $ 4 billion.
Cryptocurrency exchange, Ampleforth, Band Protocol, Balancer, Blockstack, Curve, Fetch.ai, Flexacoin, Helium, Hedera, Hashgraph, Kava, Melon, Ocean Protocol, Paxos Gold, Reserve Rights, tBTC, The Graph, in a blog announcement published on Friday THETA, UMA, and WBTC aim to make at least 90% of the total market value of the crypto assets in circulation available to their customers.
Cryptocurrencies added to the platform often experience a “Coinbase effect” and rise before being listed. Coinbase says there is no guarantee that all 19 cryptocurrencies will be supported. For my list, each asset must pass the technical and compliance review and get approval from the regulators of some countries.