Coinbase Rolls Out Trading Support for Brand-New Native Token of Ethereum Layer-2 Restaking Protocol

Coinbase has rolled out buying and selling help for the model new native token of an Ethereum (ETH) layer-2 re-recording protocol.

Clients at one of the best American crypto trade can now purchase and promote SWELL, which launched on Thursday.

SWELL is the governance token for the Swell Decentralized Autonomous Group (DAO), which manages the event and development of the readmission protocol. SWELL additionally secures the venture’s layer 2 infrastructure.

Explains the venture whitepaper,

“Swell’s mission is to create a safer, decentralized and clear monetary future for the world that doesn’t discriminate or censor financial freedom.

The start of that journey for Swell begins with persevering with to advance liquid staking as one of many foundational constructing blocks of recent decentralized finance (DeFi), which is composable and totally built-in with the Ethereum ecosystem.”

Coinbase has added the “experimental label” to SWELL, which the platform assigns to tokens that pose sure dangers comparable to worth fluctuations and canceled orders because of decrease buying and selling quantity and availability.

SWELL is buying and selling at $0.0372 on the time of writing. The 706th-ranked crypto asset is up greater than 9% on its first full day of buying and selling.

Kraken, Bybit, KuCoin, Bitrue, MEXC, Bitget and a slew of different digital asset exchanges additionally listed SWELL on Thursday.

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Generated picture: Midjourney