Coinbase, one of the largest cryptocurrency exchanges, announced the addition of the Swell (SWELL) token to its platform. This event marks a significant development for the crypto community.
Swell Listing on Coinbase
Coinbase has officially announced that Swell (SWELL) is now live on its platform, as well as in iOS and Android apps with the Experimental label. Users can buy, sell, convert, send, receive, and store this crypto asset. The news of the listing has led to a rise in SWELL's price by 29% in the last 24 hours, as well as an increase in trading volume by 285% to $255 million.
About Swell Network
Swell Network is a decentralized, noncustodial liquid staking protocol enabling users to stake Ethereum and earn passive income through blockchain rewards. In exchange for staking ETH, participants receive a yield-bearing liquid staking token (LST), representing their staked assets plus earned rewards. These tokens can be used within the broader DeFi ecosystem for additional yield.
Other Coinbase Announcements
Coinbase also announced that cbBTC is now available to German and Singaporean residents, allowing BTC holders in those regions access to DeFi apps on the Base and Ethereum networks. cbBTC, an SPL token backed 1:1 by Bitcoin (BTC), has been launched on Solana. Additionally, Coinbase will add support for Raydium perpetual futures on Coinbase International Exchange and Coinbase Advanced on November 14. This week, Neiro On Ethereum perpetual futures launched on Coinbase International Exchange and Coinbase Advanced, while Apecoin launched at the end of October.
The listing of Swell on Coinbase is a noteworthy event, reflecting a growing interest in decentralized financial solutions and allowing users to expand their investment opportunities in cryptocurrency.
