Several weeks after debuting on the Coinbase exploratory list, Band Protocol (BAND) has officially been added to the list of digital assets supported on the crypto exchange platform.
According to the announcement, Coinbase clients can now purchase, sell, trade, send, receive, and store BAND. Furthermore, the statement noted that Band Protocol’s native token BAND is currently available in all Coinbase-supported regions except New York State.
Band Protocol (BAND) is launching at https://t.co/bCG11KMQ6s and in the iOS and Android apps within the next 15 minutes. You may need to update your app to properly buy, sell, convert, send, receive, or store BAND. We will update when BAND is fully live. https://t.co/wWiSTLsES7
— Coinbase (@coinbase) August 13, 2020
Band Protocol (BAND) is a cross-chain data oracle platform that aggregates and connects real-world data and APIs to smart contracts.
The cryptocurrency exchange explained that the addition of BAND is in response to client’s requests to be able to buy and sell more cryptocurrencies on Coinbase. As well as BAND’s recent remarkable growth.
BAND has risen by around 180% since Coinbase disclosed that it would list the token on Coinbase Pro and allow storage with Coinbase Custody. Notably, the exchange noted that only ERC-20 BAND tokens will be allowed for the time been.
Coinbase to add more digital assets
It is important to note that in addition to BAND. Coinbase also disclosed that it would be adding more digital assets to its platform.
The expected assets include; Ampleforth, Balancer, Blockstack, Curve, Fetch.ai, Flexacoin, Helium, Hedera Hashgraph, Kava, Melon, Ocean Protocol, Paxos Gold, Reserve Rights, tBTC, The Graph, THETA, UMA, and WBTC.
The exchange noted that any digital assets adopted must have passed through significant technical and compliance reviews. As well as been subjected to regulatory approval in some jurisdictions.
According to Thorsten Jaeckel, Coinbase’s Product Manager, the exchange would endeavor to offer users at least 90% of the aggregate market cap of all digital assets in circulation.
“The exchange was founded as a reliable, trusted, and safe platform for people to buy and sell cryptocurrency. And we remain dedicated to providing the best crypto investing experience for our customers,” he said.
In addition to adding new digital assets Coinbase also recently launched a new feature that allows users to loan cash against bitcoin in their wallets.
Band Protocol (BAND) remarkable growth
Band Protocol in a statement noted it was proud to be listed on both Coinbase consumer and Coinbase Pro. Adding that new tools to help users understand and explore cryptocurrencies would be unveiled shortly.
Notably, BAND’s market cap has increased by more than 7000% in 2020. BAND token price stood between $0.20 and $1.20 from September 2019 to July 2020.
However, things began to take off by July 31, which saw BAND rise to about $3.99. Notably, on August 10, the price hit its peak at $15.70. Currently, as at the time of this report, Band Protocol price today is $11.63. BAND price is up 205.3% in the last 30 days.
BAND continues to soar and gain more traction in the crypto space.
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