A small-cap altcoin project built on Ethereum is surging after earning a sudden boost from Coinbase.
The crypto giant says it’s adding Threshold (T) to its listing roadmap.
The announcement is a signal that Coinbase may soon add the coin to its global exchange.
Coinbase created its listing roadmap last year to increase transparency and reduce the possibility that insiders will be able to front-run their listing announcements.
The news triggered an immediate burst in the price of T, from a 24-hour low of $0.0245 to a high of $0.0507 – a 106% increase.
The team behind Threshold says it’s building a suite of crypto services that will empower user sovereignty on the blockchain.
One of its first projects is a a decentralized bridge designed to let Bitcoin holders bring their BTC onto the Ethereum network using the pegged asset tBTC.
Coinbase says it’s also adding the decentralized music streaming service Audius (AUDIO) to its listing roadmap.
That announcement sparked a 15% price rise in AUDIO, from a 24-hour low of $0.1911 to a high of $0.2209.
Despite adding both coins to its listing roadmap, Coinbase says neither asset is guaranteed to be listed on the exchange.
They will first have to pass the company’s review process, which is run by an internal committee called the Digital Asset Listing Group.
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This article has been originally published at: https://dailyhodl.com/2023/01/23/little-known-ethereum-altcoin-soars-106-after-receiving-surprise-boost-from-coinbase/