A newly launched crypto token called KernelDAO (KERNEL) is making waves after being listed on two major exchanges within hours of its debut.
Coinbase has confirmed the addition of the token to its platform, but with a clear condition: support will be limited to the Ethereum (ERC-20) network only.
The listing will go live once sufficient liquidity is established, according to Coinbase’s announcement.
Meanwhile, Binance has already made the token available for trading, signaling growing interest around this fresh entrant.
KernelDAO is described as a “retaking” protocol, a niche concept in decentralized finance that reportedly boasts over $2 billion in total value locked (TVL).
Despite its low circulating market cap—estimated at just $52 million—the project claims a fully diluted valuation of around $325 million, based on a total supply of 1 billion tokens, with 162 million currently in circulation.
The dual listing of KERNEL so soon after launch is likely to draw further attention from investors tracking up-and-coming DeFi projects with bold claims and rapid exchange support.
Alexander Stefanov
Reporter at Coindoo
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over 8 years of experience covering the crypto, blockchain and fintech industries, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics.
Source: https://coindoo.com/coinbase-adds-new-altcoin-shortly-after-launch/