Coinbase Announces Support for CoW Protocol (COW) on Ethereum, Triggers Significant Price Surge

• Coinbase expands its digital asset offerings, fueling significant market reactions.
• The trading platform supports CoW Protocol, Moonwell, Catizen perpetual futures, and Zetachain.
• “The market has responded positively to Coinbase’s expanded support, signaling investor confidence,” noted a market analyst.

Coinbase lists new digital assets, driving trading volume and market enthusiasm. Discover how CoW Protocol, Moonwell, Catizen, and Zetachain are poised to reshape crypto trading.

Coinbase Announces Support for CoW Protocol

Coinbase will soon support CoW Protocol (COW) on the Ethereum network as an ERC-20 token. Users are advised to avoid transferring this token over different networks to prevent potential fund loss. Trading in the COW-USD pair is set to begin on September 24, 2024, contingent on liquidity conditions. Initial trading will occur in phases with some regional restrictions. Post-announcement, COW experienced a notable price increase, trading at $0.3076, up by 9.47%.

Moonwell Debuts on the Base Network

Moonwell (WELL) is now supported by Coinbase on the Base network. Similar to CoW, trading for WELL-USD will start on September 24, 2024, provided liquidity conditions are met. This token’s inclusion highlights Coinbase’s commitment to growing its DeFi offerings on emerging networks. WELL’s price surged, recording a 30-day high of $0.03642, with its intra-day price at $0.03595, marking a 25% rise from its lowest point.

Introduction of Catizen Perpetual Futures

Coinbase International Exchange will introduce perpetual futures for Catizen (CATI). Trading for CATI-PERP is scheduled to start on September 26, 2024, at 9:30 AM UTC. These futures will be available across both Coinbase International and the advanced trading platforms, allowing traders to speculate on price movements without owning the underlying asset. Following the announcement, CATI saw a 7% price increase to $0.8368, later adjusting to $0.802.

Zetachain Trading Launch

Coinbase has also initiated trading for Zetachain (ZETA), now accessible for buying, selling, converting, and storing on its platforms. The launch included an auction phase to determine the initial trading price. ZETA’s price responded positively, jumping by 4% to $0.6617 after the announcement.

Conclusion

Coinbase’s expansion of its digital asset listings is a strategic move that has been well-received by the market. With the introduction of CoW Protocol, Moonwell, Catizen futures, and Zetachain, Coinbase continues to enhance its platform’s value, supporting the growing DeFi ecosystem and offering diversified trading opportunities. Investors and traders alike should monitor these developments closely as they may influence future market trends and investment decisions significantly.