Across Protocol Shoots 14% As Coinbase Announces ACX Listing

Across Protocol (ACX) price skyrocketed 14% after the Coinbase exchange announced support for the asset. The Across Protocol will be added to the Ethereum Network with guidelines issued to users. Crypto exchange listings often affect the price growth of tokens with users anticipating larger adoption.

Coinbase Lists Across Protocol 

Coinbase Exchange announced support for the Across Protocol igniting a rally within the community. The largest crypto exchange by volume in the United States disclosed the development on X (formerly Twitter) adding instructions for users.

“Coinbase will add support for Across Protocol (ACX) on the Ethereum network (ERC-20 token). Do not send this asset over other networks or your funds may be lost. Transfers for this asset are available on @Coinbase & @CoinbaseExch in the regions where trading is supported.”

Per the disclosure, support for ACX tokens will be limited to supported jurisdictions. Trading activities got the token will kick off on Aug 21 once liquidity conditions are met. Similarly, the launch of the ACX-USD trading pair on Coinbase will launch in phases once the sufficient supply target is hit. Initial reaction across the community was filled with optimism on the listing with many projecting new positives in the future. 

Trading will begin on 21 August 2024 at or around 12PM ET if liquidity conditions are met. Once sufficient supply of this asset is established trading on our ACX-USD trading pair will launch in phases. Support for ACX may be restricted in some supported jurisdictions.

— Coinbase Assets 🛡️ (@CoinbaseAssets) August 20, 2024

Community Rallies Behind Token 

The crypto community has seen a massive price spike following the announcement. Across Protocol surged 14% today trading at $0.4295 adding to previous gains. The token remained on its bullish course after posting 22.4% gains in the last seven days while monthly numbers moved out of the red zone standing at 4%.  Across Protocol’s market cap stands at $59.2 million while daily volumes spiked ahead of gains by 49% over $650,000. 

This listing comes amid a shaky market as the Bitcoin price still trades below the $60,000 mark. Crypto users continue to rally around exchange listings due to the traction for the respective assets.

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David Pokima

David is a finance news contributor with 4 years of experience in Blockchain Technology and Cryptocurrencies. He is interested in learning about emerging technologies and has an eye for breaking news. Staying updated with trends, David reported in several niches including regulation, partnerships, crypto assets, stocks, NFTs, etc. Away from the financial markets, David goes cycling and horse riding.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.