Little-Known Altcoin Erupts 244% After Receiving Surprise Boost From Crypto Giant Coinbase

The price of a Solana (SOL)-based crypto asset is surging after getting support from US-based digital asset exchange Coinbase.

Coinbase says its customers can now trade the altcoins Marinade (MNDE) and Marinade Staked SOL (mSOL) on its platforms following an earlier announcement that it will add these low-cap coins to its catalog of supported cryptocurrencies.

The two assets are listed under the experimental asset label, which the exchange assigns to riskier cryptocurrencies with low trading volume.

“Marinade (MNDE) and Marinade Staked SOL (MSOL) are now live on coinbase.com & in the Coinbase iOS & Android apps with the Experimental label. Coinbase customers can log in to buy, sell, convert, send, receive or store these assets.”

MNDE, the governance token of the liquid staking protocol Marinade Finance that helps maintain decentralization in the Solana ecosystem, is up by 244.92% over the past 24 hours. The crypto asset is trading for $0.26 at time of writing.

mSOL, a liquid staking token rewarded to those who stake their SOL tokens on the Marinade protocol and can be used for decentralized finance (DeFi) activities, is up by 0.33% over the past 24 hours. It is currently changing hands for $33.22.

SOL also rose by $33.22 over the past day. The Ethereum (ETH) challenger is currently valued at $31.21.

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Featured Image: Shutterstock/Vitaliy Tyapkin/Sensvector