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  • This Crypto Asset Just Soared 697% After Unexpected Boost From Coinbase

This Crypto Asset Just Soared 697% After Unexpected Boost From Coinbase

November 11, 2020

A crypto asset that made waves back in 2017 is making a comeback after receiving a surprise boost from the crypto exchange Coinbase.

In a blog post, Coinbase says it is listing district0x, a platform that’s designed to allow developers to create decentralized marketplaces and communities dubbed as districts.

Its native asset DNT is an ERC-20 asset, which serves as a governance token as it facilitates the participation of investors in building the district0x network.

After the announcement that Coinbase is adding support for DNT, the cryptocurrency skyrocketed by over 697% from a low of $0.0094 on November 5th to a 30-day high of $0.075 on November 10th, according to CoinGecko.

Two other crypto assets also surged in value after receiving a boost from Coinbase.

Civic (CVC) is an Ethereum-based token leveraging the distributed ledger technology to help users keep their digital identities private.

After Coinbase listed CVC, the cryptocurrency went from a low of $0.0252 on November 5th to a 30-day high of $0.15 on November 10th – representing an increase of over 495%

Decentraland (MANA) is also witnessing a big rebound after getting listed on Coinbase. The project features an ERC-20 token that powers a decentralized virtual reality world. Gamers can use MANA to buy and sell items in the Decentraland world such as virtual lands, items, and other assets.

After the Coinbase listing, MANA climbed from a low of $0.06 on November 5th to $0.10 on November 10th, printing gains of over 66%.

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Featured Image: Shutterstock/Dima Zel