Top US Crypto Exchange Coinbase Launches Trading Support for Cosmos-Based DeFi Altcoin

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Coinbase prospects can now commerce the Cosmos (ATOM)-based decentralized finance (DeFi) altcoin Osmosis (OSMO).

The highest US crypto alternate added assist for the altcoin underneath its “Experimental Label,” a designation it established for riskier, decrease liquidity tokens.

Osmosis is an automatic market maker (AMM) protocol constructed on the Cosmos software program improvement package (SDK). It goals to allow cross-chain transactions by using inter-blockchain communication (IBC).

Osmosis’ native governance token, OSMO, is buying and selling at round $0.5986 at time of writing. The One hundred and tenth-ranked crypto asset by market cap is down 0.6% previously 24 hours and greater than 2.6% previously week.

The protocol ranks twelfth amongst all decentralized exchanges (DEXs) with $147.9 million in whole worth locked (TVL), in accordance with the crypto tracker DeFi Llama.

The TVL of a blockchain represents the overall capital held inside its sensible contracts. TVL is calculated by multiplying the quantity of collateral locked into the community by the present worth of the belongings.

Coinbase first added OSMO to its itemizing roadmap final month. It’s not the primary main alternate to assist the token: Final October, Binance listed the altcoin in its “Innovation Zone,” a devoted buying and selling house for crypto belongings that could possibly be extra liable to speedy value swings.

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