Crypto News

Coinbase launches support for little-known altcoin project, triggering an immediate 78% price hike

An altcoin rises under the radar after a surprise listing on the leading US crypto exchange Coinbase.
In a new blog post, Coinbase says that the Biconomy (BICO) token will be traded later today on Coinbase Pro once the appropriate liquidity conditions are met.

BICO is a Ethereum-based Altcoin powered by Biconomy, a network that aims to cost-effectively connect users to any decentralized application (DApps) across multiple chains. BICO can be used to pay network fees and vote on upgrades.

According to the project website, Biconomy is trying to solve several logistical problems in order to increase the general acceptance of Web 3.0.

“Web3 applications today face major user adoption barriers in the form of terrible user onboarding and transactional experiences.

There are several bottlenecks in the transaction experience: The need to pay a gas fee every time the user uses your application. Users can only pay in ETH that they may not have at that moment. Or the user may not want to spend their ETH investment. New users go through a long, complicated onboarding process. Knowledge of complex Blockchain-Techniques are required such as B. the use of MetaMask …

Our goal is to simplify transactions by handling blockchain-related complexities under the hood. “

News of the listing rocketed BICO’s price from $ 6.49 to $ 9.82 in minutes.

At the time of writing, the altcoin is trading at $ 10.06, according to CoinGecko.

Biconomy already has a number of impressive partnerships, including those of BainCapital Ventures, Mechanism Capital, and Huobi Ventures.

The BICO list is the latest in a series of altcoins added to the Coinbase platform in the past few weeks. CEO Brian Armstrong said last summer that the exchange was keen to list as many different cryptos as possible.

BICO is not yet available on Coinbase.com or the Coinbase mobile app.
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Source: Crypto News Deutsch

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