Coinbase Announces Support for Two Altcoins on the Ethereum (ETH) Network, Spurring Rallies in Both

Two Ethereum (ETH)-based altcoins are skyrocketing after gaining support from the top US-based crypto exchange platform by volume.

In new posts on the social media platform X, Coinbase is announcing the additions of the decentralized finance (DeFi) platform Maple Syrup (SYRUP) and artificial intelligence (AI)-based token Aethir (ATH) to its suite of digital asset products.

Coinbase’s announcements preceded rallies for both tokens.

The additions of SYRUP and ATH come a few days after Coinbase added the tokens to its listing roadmap last week, signaling upcoming support. At the time, both assets jumped nearly 40% in price.

News of the support caused both the assets to spike in price, as SYRUP went from a low of $0.131 on March 12th to a peak of $0.173 just a day later, a gain of 28.7% during the last 24 hours, while ATH went from a low of $0.034 to a peak of $0.040 during the same time frame, a gain of 14.4% on the day.

Aethir is a decentralized cloud computing protocol that launched last year focused on providing high-performance graphics processing unit (GPU) capabilities to AI as well as blockchain-based video games.

Maple Syrup, a DeFi protocol that launched in 2021, brings together borrowers and lenders and allows borrowers to utilize under-collateralized loans as a means of accessing capital and lets lenders earn rewards by providing funds.

Featured Image: Shutterstock/FlashMovie/Vladimir Sazonov