After being listed at the largest US cryptocurrency exchange by volume, the native token for an Ethereum-based DEX is on the upswing.
Coinbase made CoW Protocol available for trading Tuesday. The token went from $0.28 up to $0.32. This is a 14% gain in a market that was down.
If liquidity requirements are met, trading will start on or after 9:00 a.m. Pacific Time on the 24th of September 2024. Trading on the COW-USD pair will begin in stages once sufficient stock is available. Some jurisdictions may restrict COW support. .”
COW was trading at $0.31 as of the time this article is written.
In a tweet, the project claims that Coinbase’s listing would benefit the eco-system in many ways.
The mission of CoW DAO (decentralized autonomous organisation) is to ensure that DeFi (decentralized financial) is safe and easy for everyone.
Coinbase Listing:
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Make COW easier to access
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Increase liquidity while reducing the price impact.
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Introduce CoW DAO to users who are not familiar with the concepts of MEV (maximum extractable value), intentions or liquidity accumulation.
“Joining Coinbase allows CoW DAO’s user-protecting products, such as CoW Swap (automated market maker), CoW AMM( automated market maker), and MEV Blocker, to go even further.”
CoW Protocol, according to its website “is a permissionless trading protocol which leverages auctions in batches as its mechanism for price discovery.”
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The post Ethereum’s DeFi Protocol rallies after Coinbase announces support for trading may be updated as new information becomes available.
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