dailyhodl.com
A little-known altcoin is in the midst of a meteoric price rally after gaining support from crypto exchange leader Coinbase.
In a new blog post, the company announced that it will launch support for Assemble Protocol (ASM) on Coinbase Pro.
The move sent the low-cap coin’s price skyrocketing 217% from $0.03 to $0.10 in just one day, according to CoinGecko.
ASM is an Ethereum token that powers Assemble Protocol, a global blockchain-based reward point integration platform designed to match payment providers, consumers, and retail merchants.
The protocol was created as a way to solve several common problems associated with customer loyalty programs that involve points.
“First of all, the points that are provided to the customers are recorded as a liability on the point provider’s side. That’s basically why points are provided with certain validity dates, which causes a conflict between companies and customers…
Second of all, customers have few options for redemption of their points within the given validity period, which obviously causes dissatisfaction…
Lastly, customer points… are dispersed across various loyalty programs, which complicates the process of point management.”
Assembly Protocol aims to fix these issues by allowing participants to use their loyalty points the same way they’d use cash, anywhere in the world without any time restrictions.
ASM has since stabilized and is exchanging hands at $0.091 at time of writing, according to CoinGecko.