Coinbase Abruptly Lists Little-Known Ethereum Gaming Altcoin, Encounters Crypto Trading Glitch
US-based crypto exchange Coinbase says a newly-listed Ethereum (ETH) gaming altcoin is now up and running.
After abruptly adding support for the new crypto asset Prime (PRIME), the exchange said it realized the altcoin was experiencing “downgraded trading functionality.”
Trading was briefly paused, and Coinbase has now released an update saying that the issue has been resolved.
PRIME is an Ethereum-based altcoin developed by the Echelon Prime Foundation, a non-profit organization that aims to bolster the growth of the gaming space.
According to Echelon’s website, the firm “creates and distributes tools to encourage innovation in, and promote the growth of, novel gaming models and economies.”
PRIME serves as both the utility and governance token of games within the Echelon ecosystem.
Coinbase gave the crypto asset its experimental label, which is a designation given to altcoins that may have higher volatility and lower trading volume when compared to other assets in the exchange’s lineup.
The price of PRIME has been in a free fall since it debuted at a high of $7.37 on March 2nd.
The crypto asset is now trading for $3.43 at time of writing, marking an over 53% decline in less than one week.
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Author: Henry Kanapi
