Coinbase announced that they had listed ALGO, the native token of the Algorand blockchain. Not only with ALGO be available at Coinbase.com, but it will also be available in its Android and iOS apps. Coinbase users will be able to buy, sell, convert, send, receive, or store ALGO. This isn’t the first time that Algorand and Coinbase have had a working relationship. In August 2019, the latter listed ALGO in Coinbase Pro, the trading platform.
Along with the ALGO listing, Coinbase also stated the following:
“One of the most common requests we hear from customers is to be able to buy and sell more cryptocurrencies on the platform. We announced a new process for listing assets, designed in part to accelerate the addition of more cryptocurrencies. We are also investing in new tools to help people understand and explore cryptocurrencies.”
While Coinbase did announce the listing on its blog, they couldn’t tweet about it because of the recent Twitter hack. This listing has somewhat come out of the blue and managed to push ALGO’s price by a staggering 30%. In the process, Algorand’s market cap also crossed the $274 million level.
About Algorand
Algorand is a first-of-its-kind open-source, permissionless, and pure proof-of-stake blockchain protocol. Created by the legendary cryptographer, Silvio Micali, Algorand aims to remove friction from the global financial exchange. Algorand is fueling the DeFi revolution via its innovative underlying technology and a wide plethora of valuable partnerships (with USDC, Tether, and many others).
About Coinbase
Headquartered in San Francisco, California, Coinbase is one of the biggest cryptocurrency exchanges in the world. Founded in June 2012, the exchange offers a wide variety of trading products to consumers, professional traders, and institutions. It has offices in Chicago, New York, and London and serves over 20 million customers.