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Large-Cap Ethereum (ETH) Competitor Rallies As Coinbase Announces Surprise Support

dailyhodl.com 19 May 2022 19:43, UTC
Reading time: ~2 m

A decentralized layer-1 altcoin is seeing green after a listing by the US’s largest cryptocurrency exchange.

In a new announcement, Coinbase says that Flow (FLOW) will start trading on Coinbase Pro paired with Tether (USDT) once appropriate liquidity conditions are met.

The Flow blockchain is tailored for developers of games, applications and non-fungible tokens (NFTs).

According to the project website, Flow currently boasts over 7,000 developers, more than a thousand active projects, as well as 1.2 million wallets transacting per month.

Flow is the brainchild of Dapper Labs, the team which also created the popular game CryptoKitties. The NFT game allows players to buy, collect and sell virtual cats. The project has since racked up a number of high-profile corporate alliances, including the NBA, Warner Music Group and Ubisoft.

Flow’s blockchain builds functional improvements directly on its protocol layer, allowing users to make payments and participate in the network’s governance.

Native token FLOW can also be used to pay for various network services and storing data, as well as staking and node validation.

Dapper Labs is also looking to partner with fashion brands in the future.

News of the Coinbase listing initially sent Flow jumping by 8.6% from $2.78 to $3.02.

After some choppy price action, FLOW is currently up 3.08% on the day and is priced at $2.96.

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