Two Altcoins Skyrocket in Price After Coinbase Adds Crypto Assets to Listing Pipeline
Top US crypto exchange Coinbase added two under-the-radar altcoins to its listing roadmap this week.
The exchange’s customers may soon be able to trade Aerodrome Finance (AERO) and Velodrome Finance (VELO), according to a new announcement.
Aerodrome Finance is a trading and liquidity marketplace on Base, Coinbase’s Ethereum (ETH) layer-2 scaling solution. The project is a fork of Velodrome, a trading and liquidity marketplace on Optimism (OP), another Ethereum layer-2 scaler.
Aerodrome’s native token, AERO, is up more than 69% in the past 24 hours. The 1113th-ranked crypto asset by market cap is trading at $0.0747 at time of writing.
Velodrome’s native token, VELO, has surged by more than 35% in the past day. The 753rd-ranked crypto asset by market cap is trading at $0.056 at time of writing.
Both projects have non-fungible tokens (NFTs) that can be used to vote on token emissions and receive incentives and fees generated by the protocols. They both also advertise token swaps with low fees and minimal slippage.
Aerodrome is the top protocol on Base in terms of total value locked (TVL), clocking nearly $116 million, according to the decentralized finance aggregator DeFi Llama.
TVL refers to the amount of capital deposited within a protocol’s smart contracts and is often used to gauge the health of a crypto ecosystem.
Velodrome is the second-ranking protocol on Optimism, clocking more than $135.6 million in TVL.
Coinbase established the listing roadmap in 2022 to increase transparency and reduce the possibility of front-running new trading support announcements.
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Author: Conor Devitt
