Crypto Exchange Coinbase puts two new digital assets on its tradable altcoins list roadmap as markets continue their downward trend.
BENQI is a decentralized finance (DeFi) protocol composed of BENQI Liquid Staking and BENQI Liquidity Market. QI is the project’s native token used for governance and utility. It is required to vote on the proposals made by the decentralized autonomous body (DAO) of BENQI.
As of this writing, QI appears to have reacted positively to the Coinbase news, up 10% on the day and 21% over the past seven days. BENQI trades at $0.0072 with a market capitalization of just over $23 million.
Kava is a decentralized lending protocol built on the Cosmos network. The Kava system uses Cosmos to mint its USDX stablecoin whenever crypto is deposited on the platform as collateral. Those who deposit crypto to support the lending system are rewarded with weekly payments from KAVA.
KAVA is currently trading at $0.86, which is 90% below its all-time high with a market cap of $281,996,397.
Coinbase continued to rapidly add new altcoins to its listing roadmap throughout the bear market. CEO Brian Armstrong has said that eventually, the exchange aims to have as many crypto assets as possible on its platform, as long as they meet basic criteria for things like security and legality.
“It’s kind of like Amazon or something where a product might have three stars or five stars, but if it starts getting one star consistently, it’s probably fraudulent or faulty or something and maybe Amazon will remove it. If not, you want to let the market decide what these things are…
My belief is that there will be millions of these assets over time, so hopefully it won’t make the news every time we add one in the future, basically.
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