Crypto Exchange Coinbase Adds Support for Altcoin Built on Ethereum (ETH) As Markets Pause

An interoperability protocol focused on ease of use just joined the leading US-based crypto exchange’s trading roster.

In a new post, Coinbase says that Celer Network (CELR) is now live across its entire platform, including on the iOS and Android apps.

The Celer Network scaling platform was built on Ethereum (ETH) and is designed to enable off-chain transactions in a secure manner.

The project aims to be a “multi-blockchain operating system” that offers a one-click user experience for a variety of niches, including decentralized finance (DeFi), non-fungible tokens (NFTs), gaming, as well as development of decentralized applications (DApps).

Its native utility token CELR can be used for staking to facilitate the network’s consensus mechanism as well as to pay for network fees.

Celer Network (CELR) is now live on https://t.co/CD3RBjtMAO & in the Coinbase iOS & Android apps. Coinbase customers can log in to buy, sell, convert, send, receive or store this asset. https://t.co/676miKRrfh pic.twitter.com/IMbrZbaGiL

— Coinbase Assets (@CoinbaseAssets) August 16, 2022

Last month, Coinbase added Celer Network to its roadmap, which consists of projects that are being considered for the exchange’s lineup of supported crypto assets. Coinbase says that the roadmap is the crypto exchange’s way to communicate with market participants before deciding to list an asset in an effort to increase transparency.

Celer Network has witnessed some dramatic price action over the past few weeks, at first climbing over 81% from a July 26th low of $0.016 to a peak of $0.029 on August 12th.

CELR has since mirrored the overall recent market correction, in the red by 9.41% over the past 24 hours and trading for $0.022 at time of writing.

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Featured Image: Shutterstock/tdhster/Andy Chipus