Get the scoop on finance - sign up for mobile alerts
Altcoins
| On
April 29, 2022

Crypto Exchange Giant Coinbase Offers Custody Support for Six Little-Known Altcoins, Including Four DeFi Tokens

By Daily Hodl Staff

Coinbase continues to expand its crypto footprint by extending custodial services support to half a dozen altcoins, including four decentralized finance (DeFi) tokens.

In a new announcement, the US-based cryptocurrency exchange says it’s adding six new cryptocurrencies to its roster of 200+ assets that are part of the Coinbase Custody cold storage trust.

ADVERTISEMENT

Coinbase Custody is a custodial service for institutional investors with big money. It’s chartered in New York State and designed to give clients a highly secure way to store large amounts of cryptocurrency.

First getting the nod from Coinbase is Bifrost (BFC) which bills itself as the world’s first blockchain middleware, a DeFi protocol built on Kusama (KSM). The platform aims to allow engineers to easily build on top of multiple blockchains and combine the best features of various protocols. Its open-source, decentralized Biport Wallet went live last November.

Bifrost surged overnight from a weekly low of $0.13 to above $0.15 but has since corrected with BFC now up by 4.63% and priced at $0.14.

ADVERTISEMENT

Next up is Ethereum-based Coin98 (C98), a self-described “all-in-one” DeFi platform where users can swap, stake, borrow, lend and earn crypto rewards.

Coin98 is currently up by 2.41% and trading for $1.32.

Also joining the Coinbase cold wallet roster is the multi-chain, liquidity-providing DeFi exchange DODO (DODO) which is geared for Web 3.0. Users can mint their own tokens, create liquidity pools as well as fractionalize their non-fungible tokens (NFTs).

At time of writing, DODO is down 1.33% and valued at $0.35.

Also added to the Coinbase Custody slate is Reef Finance (REEF), which caters to users of DeFi, non-fungible tokens, and gaming. The community-governed project is cross-chain compatible as well as with the Ethereum Virtual Machine (EVM).

ADVERTISEMENT

Reef Finance has experienced choppy downward price action over the past month, and currently, REEF is in the red by 1.59% at a going rate of $0.008 per token.

Also getting the nod is Metal (MTL), another Ethereum-based altcoin project which is designed to bring crypto payments to the mainstream. The Metal Pay wallet app allows people to buy, sell and trade cryptocurrencies as well as send capital to acquaintances.

Currently, Metal is up nearly 3% and changing hands for $2.64.

Last on the list is Prometeus (PROM), whose open-source network prioritizes freedom of expression while enabling users to monetize their data.

Prometeus is down 1.91% on the day and priced at $8.19, but remains up 6.9% from its monthly low of $7.66 on Tuesday.

Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Check Price Action
Follow us on X, Facebook and Telegram
Surf The Daily Hodl Mix
&nbsp
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/klyaksun