Ethereum-Based Altcoin Project Jumps After Crypto Exchange Coinbase Adds It to Listing Roadmap

A Ethereum (ETH)-based altcoin rallied after news that leading US crypto exchange Coinbase added the project to its listing roadmap.
Lido DAO (LDO), a staking service for Ethereum and others Blockchainprojects, has seen its price rise more than 16% in the days following Coinbase’s announcement via Twitter.

For transparency, Coinbase is adding projects to its listing roadmap to make them available for trading on its exchange and is announcing the additions via Twitter.

Lido DAO and its ERC-20 token LDO aim to allow users to stake ETH without locking assets or maintaining infrastructure. When staking on the platform, users receive Staked Ethereum (stETH) on a 1:1 basis that represents their staked ETH, and stETH balances can be used like regular ETH to earn income or rewards.

At the time of Coinbase’s announcement three days ago, the price of LDO was changing hands near $1.25. At the time of writing, LDO is trading at $1.46, up almost 17% in price.

The Ethereum-based altcoin has one market capitalization of $1.01 billion and is about 80% below his all-time high from $7.30.

Coinbase CEO Brian Armstrong previously said the exchange will list as many crypto assets as possible after meeting simple standards.

“It’s a bit 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 defective or something and maybe Amazon will remove it. Otherwise, you want to let the market decide what those things are…

I believe there will be millions of these assets over time and I hope that basically every time we add one it doesn’t make headlines.”