Coinbase Lists Two New Ethereum-Based Altcoin Projects, Sparking Big Rallies. Pawtocol saw gains as Pet owners earn (UPI) tokens from blockchain to purchase toys and food.
A pair of altcoins are seeing bullish price action after a surprise listing by top US crypto exchange Coinbase.
In an announcement, Coinbase says that multichain interoperability platform Loom Network (LOOM) is live for buying and selling on its main website as well as iOS and Android apps.
Loom Network aims to give developers of decentralized applications (DApps) tools that are both scalable and designed for ease of use.
The project website says,
“With seamless integrations to Bitcoin, Ethereum, Binance Chain, and all major blockchains, deploying once to Loom lets you future-proof your DApp by reaching the largest number of users possible.”
LOOM, the project’s native token secures the Basechain mainnet and can also be used by developers to pay their DApp hosting fees.
News of the Coinbase announcement initially had Loom Network weaving threads of gold as it soared nearly 28% from $0.077 to $0.107, before correcting in several legs down to $0.081. LOOM remains up by 5% overall.
Also getting the green light from Coinbase Pro is the pet-focused Pawtocol, whose native token UPI stands for Universal Pet Income.
Citing problems in pet care such as poor health, deceptive advertising practices and corporate monopolies, Pawtocol aims to harness the power of blockchain technology to revolutionize the industry.
According to the whitepaper,
“Pawtocol was inspired by a shared vision to build a global community of pet parents, service providers, and manufacturers who are unified towards improving pet care.
We have a mission to help pets around the world live longer and healthier lives by empowering pet caretakers with cutting-edge technology and data.”
Animal lovers can earn UPI by sharing data from their pet’s scannable, blockchain-connected tag and then use the token to purchase toys and food.
News of the Coinbase listing has seen Pawtocol fetching impressive gains, initially rallying from $0.09 to $0.15 for a quick 66% gain before correcting. At time of writing, UPI is trading just under $0.12.
Coinbase says that UPI will be available to trade paired with USD and USDT once appropriate liquidity conditions are met.
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