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The top US crypto exchange platform by trading volume is abruptly adding support for Wormhole (W), causing the native asset of the cross-chain messaging project to rally briefly.
In a new announcement, Coinbase Assets says it’s adding Wormhole, an interoperability project that allows communication between blockchains, to its suite of digital asset products.
“Wormhole (W) is now live on http://coinbase.com and in the Coinbase iOS and Android apps. Coinbase customers can log in to buy, sell, convert, send, receive or store these assets.”
News of the addition sent W flying, as the crypto asset went from a low of $0.61 on June 27th to a peak of $0.81 just a day later. Wormhole has since retraced and is trading for $0.071 time of writing, a fractional decrease during the last 24 hours.
According to its official website, Wormhole is currently compatible with numerous prominent blockchains, including Base and BNB Chain, the respective blockchains of Coinbase and Binance, the two largest crypto exchanges in the world.
“A fully integrated chain can use cross-chain decentralized applications (DApps) to send and receive tokens and NFTs. It can also publish and verify messages to and from the network – meaning developers can utilize the full suite and power of Wormhole.”
Other compatible chains include smart contract platforms Ethereum (ETH), Algorand (ALGO), and Avalanche (AVAX), as well as layer-2 scaling solutions Optimism (OP), Arbitrum (ARB), and Polygon (POL).
