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‘Ancient’ Ethereum (ETH)-Based Altcoin Jumps Over 50% on New Coinbase Listing

July 18, 2024

A gaming altcoin built on Ethereum (ETH) is seeing 50% gains after being suddenly listed on top US crypto exchange platform Coinbase.

In a new post on the social media platform X, Coinbase says it is now listing ETH layer-2 gaming blockchain Ancient8 (A8) with an experiment label, meaning the asset could have low trading volume and high volatility.

“Ancient8 is now live on coinbase.com and in the Coinbase iOS & Android apps with the experimental label. Coinbase customers can log in to buy, sell, convert, send, receive or store these assets.”

According to A8’s official website, the protocol uses Ethereum scaling solution Optimism (OP)’s blockchain to significantly boost performance and lower fees when developing games.

“As the pioneer gaming ecosystem on the Optimism Superchain, Ancient8 leverages OP Stack Layer2 tech to offer blockchain games the best of Ethereum with no code changes needed, at a significantly lower cost.”

Ancient8, which first launched its testnet in 2023, currently features five games: Onchain Clash, Omnizone, MasterDuel, Wee Pepe, and DeWorld. The project says it sees a future where gaming, interoperability, and decentralization seamlessly intertwine.

“Looking ahead, Ancient8 aims to strengthen network decentralization and build a robust gaming community. With that goal in mind, we envision a continuously evolving Web3 gaming forefront, where decentralized technology and community collaboration coexist in harmony.”

The news sent A8 soaring from a 24-hour-low of $0.172 to a 24-hour-high of $0.261, a 51% leap. The token has since corrected, trading for $0.194 at time of writing.

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Featured Image: Shutterstock/Yurchanka Siarhei