The price of the Across Protocol (ACX) token skyrocketed by 14% following the announcement of its listing on the Coinbase cryptocurrency exchange. Across Protocol will be added to the Ethereum network with guidelines issued to users.
Coinbase Lists Across Protocol
Coinbase Exchange announced support for the Across Protocol, igniting a rally within the community. The largest crypto exchange by volume in the United States disclosed the development on X (formerly Twitter) and provided instructions for users. “Coinbase will add support for Across Protocol (ACX) on the Ethereum network (ERC-20 token). Do not send this asset over other networks, or your funds may be lost. Transfers for this asset are available on @Coinbase & @CoinbaseExch in the regions where trading is supported.†Per the disclosure, support for ACX tokens will be limited to supported jurisdictions. Trading activities for the token will kick off on Aug 21 once liquidity conditions are met. Similarly, the launch of the ACX-USD trading pair on Coinbase will launch in phases once the sufficient supply target is hit. Initial reaction across the community was filled with optimism with many projecting new positives in the future. quote: {"CITE_NA": "Trading will begin on 21 August 2024 at or around 12PM ET if liquidity conditions are met. Once sufficient supply of this asset is established, trading on our ACX-USD trading pair will launch in phases. Support for ACX may be restricted in some supported jurisdictions." -- Coinbase Assets (@CoinbaseAssets) 20 August 2024 }
Community Rallies Behind Token
The crypto community saw a massive price spike following the announcement. Across Protocol surged 14% today, trading at $0.4295, adding to previous gains. The token remained on its bullish course after posting 22.4% gains in the last seven days, while monthly numbers moved out of the red zone, standing at 4%. Across Protocol’s market cap stands at $59.2 million, while daily volumes spiked ahead by 49% to over $650,000.
Current Market Situation
This listing comes amid a shaky market as the Bitcoin price still trades below the $60,000 mark. Crypto users continue to rally around exchange listings due to the traction for the respective assets.
The listing of Across Protocol on Coinbase led to a significant rise in the token's value and community support. Despite current market instability, such news helps users remain optimistic and confident about the future.
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