Coinbase is a well established exchange and when they make a move the market will respond to that they do.
An Ethereum-based altcoin is now supported across Coinbase’s full retail platform, the top US crypto exchange announced today.
Coinbase.com and the exchange’s mobile apps can now access the Biconomy (BICO) token. Earlier this week, Coinbase Pro listed the crypto asset, triggering a massive rally.
BICO is an Ethereum-based governance token for the Biconomy Network, a multichain platform that aims to connect its users’ wallets with decentralized applications.
Node operators can use the crypto asset to pay transaction fees, and BICO holders can vote on decisions affecting Biconomy’s protocol and network.
The token also went live on Huobi, Bybit, OKex, SushiSwap, BitMart, MEXC Global and Crypto.com’s mobile app this week, according to the project’s Twitter account.
Additionally, Biconomy rolled out a rewards and airdrop program on Wednesday.
After skyrocketing 200% on Wednesday, BICO is trading at $9.32 at time of writing and has retraced 37% in the past 24 hours.
Coinbase added support for BICO amid a flurry of new altcoin listings over the past several months. The exchange’s chief executive, Brian Armstrong, noted in July that they plan to list as many altcoins as possible.
Featured Image: Shutterstock/Dotted Yeti/Andy Chipus
