Coinbase Announces Upcoming Support for Ethereum (ETH)-Based NFT Gaming Studio Altcoin – The Daily Hodl

Coinbase Announces Upcoming Support for Ethereum (ETH)-Based NFT Gaming Studio Altcoin – The Daily Hodl

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The biggest crypto exchange in the US says it is adding the native token of the non-fungible token (NFT) gaming studio Vulcan Forged (PYR) to its list of supported digital coins.

According to Coinbase, the platform is debuting trading of the Ethereum (ETH)-based altcoin on November 29th once liquidity conditions are met. 

“Coinbase will add support for Vulcan Forged PYR (PYR) on the Ethereum network (ERC-20 token). 

Once sufficient supply of this asset is established trading on our PYR-USD trading pair will launch in phases. Support for PYR may be restricted in some supported jurisdictions.”

The announcement comes just weeks after Coinbase added PYR to its listing roadmap, the catalog of crypto assets that the company plans to add. The exchange created the roadmap in a bid to increase transparency and minimize incidents of pump and dumps that occur when the price of coins surge once they get listed on exchange platforms. 

The price of PYR jumped following the announcement. At time of writing, the altcoin is changing hands for $3.25, up by 11.93% in the past 24 hours, but 93% down from its all-time highs.

Earlier this year, Coinbase CEO Brian Armstrong said the exchange aims to list as many crypto assets as possible, as long they meet certain standards of the company.

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/issaro prakalung

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