Coinbase Triggers Rallies in Ethereum Altcoin and One Low-Cap Arbitrum-Based Project After Adding to Roadmap

An Ethereum (ETH)-based altcoin and a low-cap Arbitrum (ARB)-based project are skyrocketing after being added to Coinbase’s listing roadmap.

In a new announcement, Coinbase says that it is adding cross-chain bridge Multichain (MULTI) and Arbitrum-based stablecoin issuer and decentralized finance (DeFi) developer Sperax (SPA) to its listing roadmap.

MULTI spiked from its 24-hour low of $10.70 all the way to $12.05 in just a few hours following the Coinbase announcement, a 12.6% increase. The coin has since retraced and is trading for $11.28 at time of writing.

SPA also rallied, going from its 24-hour low of $0.0054 to $0.00782, a hefty 69% increase in less than an hour. Though Sperax dipped a little after, it once again picked up some momentum and is valued at $0.00783 at time of writing, a 46.2% increase during the last 24 hours.

Being on Coinbase’s roadmap doesn’t necessarily mean the digital assets will be listed, but it does mean that the crypto exchange is considering supporting them in the future. Coinbase created its roadmap system to promote transparency in its listing processes and to prevent insider trading.

Sperax is known for creating the first-ever auto-yielding stablecoin, which according to crypto analytics platform Messari, “combines the scalability benefits of algorithmic stablecoins with the stability benefits of collateralized stablecoins.”

On the other hand, Multichain is a cross-chain platform that allows users to bridge tokens across different blockchains. It currently supports 74 different chains.

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Featured Image: Shutterstock/Yurii Andreichyn/Sensvector