Three Ethereum-Based Altcoins on the Rise Following Coinbase Announcement

Top US-based crypto exchange platform Coinbase is adding three new Ethereum (ETH)-based altcoins to its suite of products, causing the assets to skyrocket.

In a new announcement on the social media platform X, Coinbase says it’s adding support for decentralized roll-up protocol AltLayer (ALT), decentralized finance network Pendle (PENDLE), and gamified learning platform Layer3 (L3) nearly a week after adding them to its listing roadmap.

News of the additions sent all three altcoins flying, as AltLayer, a protocol that uses rollups to enhance scalability, went from a low of $0.037 on March 26th to a peak of $0.041 a day later. It has since retraced and is trading for $0.0407 at time of writing, a 8.3% gain on the day.

Pendle, a project that tokenizes yields, also saw gains as it went from a low of $2.83 to a peak of $2.99 during the same time frame. It too has retraced and is trading for $2.95 at time of writing, a gain of 3.7% during the last 24 hours.

L3, a program that teaches users about Web3 via interactive games, skyrocketed as well, as it went from a March 26th low of $0.087 to a peak of $0.106 just a day later. It is moving for $0.104 at time of writing, a 17.5% gain during the day.

Coinbase first added the altcoins to its listing roadmap – which is used to increase transparency and prevent the front-running of new tokens – on March 21st, also causing the digital assets to rally at the time.

Featured Image: Shutterstock/Vanessa SG/Natalia Siiatovskaia