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Coinbase, an American exchange, has released a new listing roadmap causing these two altcoins to rally, an Ethereum (ETH)-based altcoin and a low-cap Arbitrum (ARB)-based project.

Based on the announcement, Coinbase would be integrating cross-chain bridge Multichain (MULTI) and Arbitrum-based stablecoin issuer and decentralized finance (DeFi) developer Sperax (SPA) to its listing roadmap.

Following the announcement, MULTI soared 12.6% from a 24-hour low of around $10.70 to an intra-day high of $12.05, barely hours after Coinbases Twitter post went up. However, the altcoin has since retraced to trade at $10.88 at the time of writing.

MULTI/USDT 1-day chart

The Multichain ecosystem is a cross-chain platform where users can conveniently bridge tokens across multiple blockchains. Based on latest data, the platform currently supports up to 74 chains.

On the other hand, SPA, an Arbitrum-based stablecoin issuer and DeFi developer reacted to the listing news with an uptick of around 70%, exploding from its 24-hour low of $0.00540 to an astonishing $0.00782 within minutes post-listing announcement.

SPA/USDT 1-day chart

While Sperax also pulled back shortly after, it regained momentum to secure a market valuation of around $0.00730 at the time of writing, denoting an increase of over 39% in the last 24 hours.

The Sperax ecosystem is reputed for developing a pioneer auto-yielding stablecoin. Speaking on the stablecoin, crypto analytics platform Messari said,

It combines the scalability benefits of algorithmic stablecoins with the stability benefits of collateralized stablecoins.

Securing a listing on a large cryptocurrency exchange is a big deal for any project as such events can often determine a make-or-break level for the adoption and market impact of the concerned coin. Moreover, being listed on one exchange relative to another could mean the difference between one hundred thousand and ten million customers. This explains why it is of utmost significance that a crypto project, new and old alike, secures a listing spot with top-tier exchanges like Binance or Coinbase.

Notably, a project could have a lot of potentialbut may fail to reach this potential simply because of a lack of exchange listings.

While featuring on Coinbases roadmap does not guarantee that Multichain and Sperax will be listed, it indicates that the largest crypto exchange in America has seen their potential and may support MULTI and SPA in the future.

Notably, Coinbase exchange developed a new roadmap system in an attempt to foster transparency in its listing processes while preventing inside trading.

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Coinbase listing roadmap fuel rallies in Ethereum-based altcoin and another Arbitrum-based project - FXStreet

An Ethereum (ETH)-based altcoin and low-cap Arbitrum (ARB)-based project are skyrocketing after being added to Coinbases listing roadmap.

In a new announcement, Coinbase says that it is adding cross-chain bridge Multichain (MULTI)and Arbitrum-based stablecoin issuer and decentralized finance (DeFi) developer Sperax (SPA) to its listing roadmap.

MULTI spiked from its 24-hour low of $10.70 all the way to $12.05 in just a few hours following the Coinbase announcement, a 12.6% increase. The coin has since retraced and is trading for $11.28 at time of writing.

SPA also rallied, going from its 24-hour low of $0.0054 to $0.00782, a hefty 69% increase in less than an hour. Though Sperax dipped a little after, it once again picked up some momentum and is valued at $0.00783 at time of writing, a 46.2% increase during the last 24 hours.

Being on Coinbases roadmap doesnt necessarily mean the digital assets will be listed, but it does mean that the crypto exchange is considering supporting them in the future. Coinbase created its roadmap system to promote transparency in its listing processes and to prevent insider trading.

Sperax is known for creating the first-ever auto-yielding stablecoin, which according to crypto analytics platform Messari, combines the scalability benefits of algorithmic stablecoins with the stability benefits of collateralized stablecoins.

On the other hand, Multichain is a cross-chain platform that allows users to bridge tokens across different blockchains. It currently supports 74 different chains.

Featured Image: Shutterstock/Yurii Andreichyn/Sensvector

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Coinbase Triggers Rallies in Ethereum Altcoin and One Low-Cap Arbitrum-Based Project After Adding to Roadmap - The Daily Hodl

After the emergence of Bitcoin (BTC), people started to realize that blockchain its underlying technology could be used for other purposes, giving rise to Ethereum (ETH) and making it a powerful competitor to the flagship decentralized finance (DeFi) asset. With time, more networks and cryptocurrencies appeared, threatening to unseat Bitcoins runner-up.

In this context, there are several such digital assets that have stood out as potential Ethereum killers due to the challenge they present to the second-largest crypto asset by market capitalization, as well as their perceived capability to possibly even replace the Ethereum coin as the second most famous asset on the crypto market.

Solana (SOL) has emerged as a strong contender to Ethereums domination thanks to its lower gas fees and high transaction rates (although Ethereum is catching up with its network updates), as well as the use of the Proof-of-History (PoH) consensus mechanism with other more conventional algorithms.

As things stand, Solana is currently changing hands at the price of $24.04, up 1.35% in the last 24 hours, in addition to gaining 14.59% over the previous seven days after it revealed a new solution promising to reduce the cost of on-chain storage. It has also gained 18% on its monthly chart, as well as a whopping 142.31% since the years turn, according to data retrieved on April 13.

Describing itself as a Layer 0 blockchain, Polkadot (DOT) has recently filed a trademark application for the blockchain communication platform Polkadot Converse as well as updating its ecosystem with Kagome 0.9.0, a Polkadot Host implementation written in C++.

Its price at press time stood at $6.42, increasing 2% in the past 24 hours, 0.26% over the previous week, as well as 5.21% on its monthly chart. In terms of its year-to-date (YTD) gains, Polkadot has added 46.73% to its value, as the recent charts demonstrate.

Another Proof-of-Stake (PoS) ecosystem like Ethereum, Avalanche (AVAX) integrates three interoperable blockchains together, providing greater scalability. On April 6, the team launched its Cortina upgrade on the protocols testnet, promising improved Avalanches X-Chain support for crypto exchanges and faster development, among other benefits.

Currently, Avalanche is changing hands at the price of $28.54, which demonstrates a 2.38% climb in the last 24 hours, in addition to increasing its value by 3.03% across the week and 12.59% in the previous month, whereas its gains since January 1 amount to 69.89%.

Layer 2 scaling solution that uses the Ethereum blockchain, Polygon (MATIC) has had a massive surge in gaming activity in March, making it the second-largest gaming blockchain after WAX (WAXP), according to the report by DappRadar.

At present, Polygon is changing hands at $1.12, recording a 2.35% increase in the past day, although it has lost 2.04% during the previous week and 6.16% across the last 30 days. However, those losses are offset by the year-to-date (YTD) gains of 46.69%

A self-upgradable and energy-efficient PoS blockchain that also deploys Liquid Proof-of-Stake (LPOS), Tezos (XTZ) has had multiple positive news this year, as well. First, it announced a partnership with Google Cloud, and then it unveiled the Mumbai protocol, one of its most significant upgrades to date, promising to push Tezos ahead of its competition.

Meanwhile, the Tezos price chart has been slightly choppy in recent days, at press time trading at the price of $1.11, up 0.53% on the day, despite losing 2.85% in the last seven days. On its monthly chart, however, Tezos has gained 1.30%, adding up to the 2023 increase of 52.54%.

Although the future growth in the value of digital assets can depend on multiple factors, the highlighted cryptocurrencies and their teams have demonstrated the capability to justify their status as Ethereums main competitors, guaranteeing more progress this year, accompanied by strengthening prices.

Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.

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The next Ethereum? 5 cryptocurrencies poised for massive growth in ... - Finbold - Finance in Bold

If youve been around crypto for a while, youve probably heard of the Bitcoin halving, which is a highly anticipated event that happens every four years. But did you know about the Ethereum triple halving?

Ethereum triple halving is a term used to describe three factors that are providing deflationary pressure to the ETH supply. The term is inspired by the Bitcoin halving, which is a mechanism implemented in the Bitcoin protocol that cuts the issuance of new BTC coins by half roughly every four years.

In this article, well explain the Ethereum triple halving and how it can effect the prospects of ETH as a long-term investment.

Before we continue, we should make it clear that the name Ethereum triple halving is a bit deceivingwell explain why in the next section of the article. Regardless, the name has been adopted by the crypto community, and the concept it describes is very important if youre considering investing in ETH.

However, its important to keep in mind that unlike the Bitcoin halving, the Ethereum triple halving is not an actual event built into the Ethereum protocol. Instead, its a term that the Ethereum community came up with to describe how new mechanisms implemented in the Ethereum protocol are helping reduce the supply of ETH.

The concept of the Ethereum triple halving consists of three main parts:

Now, lets explore how each of these factors is impacting the ETH supply and how they could help Ethereum recover from the crypto bear market.

Ethereums migration from Proof-of-Work to Proof-of-Stake has had a very significant impact on the ETH supply. The reason for this is quite simplethe Ethereum blockchain has to issue much fewer ETH to reward stakers than the amount of ETH it had to issue to reward miners.

Cryptocurrency mining is an energy-intensive process that requires a significant upfront investment in mining hardware. Meanwhile, staking requires much less energy and is cheaper to get started with. Therefore, the network needs to issue a smaller amount of ETH to reward stakers adequately compared to the amount of ETH it had to issue to incentivize miners.

More specifically, the Ethereum protocol was issuing around 13,000 ETH per day to reward miners under the Proof-of-Work model. Under the new Proof-of-Stake model, the Ethereum protocol only has to issue about 1,600 ETH per day to reward stakers. This is a reduction of about 87.7%.

According to ETH supply tracker ultrasound.money, the Ethereum supply has decreased by 91,860 ETH from September 15, 2022 to April 18, 2023 (the time of writing). According to the aggregators estimates, the supply would have instead increased by 2.41 million ETH in the same time period if Ethereum still used Proof-of-Work.

In the following chart, you can see how the supply of ETH has changed since the transition to Proof-of-Stake (September 15, 2022). For comparison, the chart also includes the change in Bitcoins supply and the change in ETH supply if it still used Proof-of-Work (simulated).

As we can see, ETH has been slightly deflationary since the transition over to the Proof-of-Stake consensus mechanism. If this trend continues, it favors long-term ETH holders since ETH will become increasingly scarce, providing positive pressure to the coins price.

However, theres no guarantee that the ETH supply will continue to be deflationary forever, as well explain in the following section.

So, we learned that the ETH issuance rate has dropped to about 1,600 ETH per day since the Merge. But if 1,600 new ETH is being created every day, how has the supply of ETH decreased?

The answer lies in the EIP-1559 upgrade, which was activated through the London hard fork in August 2021. The upgrade reworked Ethereums transaction fee structure with a mechanism in which the base ETH gas fee paid for transactions is burned. It also gave Ethereum users the option to add a tip for validators to have their transaction prioritized.

Comparing theEthereum transaction fee mechanisms before and after EIP-1559. Image source: ConsenSys

EIP-1559 is the reason why the ETH supply has decreased despite new ETH coins being created every day to reward validators. The amount of ETH thats being burned of course depends on how much ETH users are paying for transactions on the Ethereum network. So, when demand for transactions on Ethereum grows, more ETH is burned.

So far, the amount of ETH burned through EIP-1559 has outpaced the amount of ETH thats being issued, resulting in a slight reduction in the ETH supply. If demand for transactions for Ethereum drops in the future, however, we could see ETH becoming inflationary again.

ETH staking is the third factor included in the Ethereum triple halving concept. Following the move to Proof-of-Stake, ETH holders can stake their coins to help secure the Ethereum network and earn staking rewards in exchange.

Essentially, staking Ethereum provides another incentive to passively hold ETH and lock it up in staking, which temporarily removes it from circulation (staked coins cannot be sold without being unstaked first).

This part of the Ethereum triple halving has become a bit less relevant recently. This is because the Shapella upgrade, which was enabled on April 12, 2023, introduced the ability to withdraw staked ETH coins. Between the introduction of Ethereum staking in December 2020 and the Shanghai upgrade, staked ETH could not be withdrawn, so they were truly removed from circulation.

Now that ETH holders have the option of withdrawing their staked coins, staked ETH can no longer be counted as removed from circulation. Still, the ability to stake ETH is an incentive against selling, so one could still argue that ETH staking is a positive influence on ETH as a long-term investment.

At the time of writing, Nansen data shows theres about 18.7 million staked ETH, which represents 15.6% of the ETH supply.

Interestingly enough, the number of staked ETH took a sharp uptick following the Shapella upgrade, which is an indication that the ability to unstake ETH has given investors more confidence to stake their coins.

Unlike the Bitcoin halving, the Ethereum triple halving is not an actual event, so it doesnt have a date. All the mechanisms described by the term Ethereum triple halving have already been implemented, so we can say that the Ethereum triple halving has already happened and will continue to be in effect so long as the Ethereum protocol is changed in a relevant way.

The ETH triple halving has already turned the ETH supply deflationary, although theres no guarantee that it will remain this way. Due to the burn mechanics introduced in EIP-1559, the fluctuations in the ETH supply are determined by the demand for transactions on the Ethereum network. If ETH continues to be deflationary, the Ethereum triple halving could positively impact the long-term Ethereum price prediction.

The Ethereum triple halvings impact on the ETH supply has made ETH a more attractive asset to hold over the long term, as it significantly reduced the amount of new ETH coins that are entering circulation. In fact, ETH has even turned slightly deflationary after the last part of the Ethereum triple halving, the transition to Proof-of-Stake, was implemented in September 2022.

Of course, the Ethereum triple halving is only one of the factors to consider when evaluating Ethereum as an investment. Its also important to keep up with developments on the Ethereum scalability front, which will ultimately determine whether Ethereum will be able to gain truly widespread adoption.

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What is Ethereum Triple Halving? How ETH Became Deflationary - CoinCodex

David Angliss, an analyst with Australias leading cryptocurrency investment firm,Apollo Crypto, shares the funds regular take on whats happening in the fast-changing and volatile cryptocurrency space.

The last time we chatted with Apollo Cryptos David Angliss, we concentrated on one of the major bullish sector narratives to take hold of the industry so far this year Layer 2 scaling of Ethereum, specifically the Arbitrum project and its recently airdropped ARB token.

Continuing in that vein, this article looks a bit closer at probably the most hyped protocol of all L2s yet to release a token. And thats zkSync.

Angliss was first, however, keen to chat about the Ethereum blockchains most recent upgrades, Shanghai and Capella, collectively known as Shapella.

The main thing to know about this upgrade, as weve mentioned elsewhere on Coinhead recently, is that Shapella enables those whove been staking ETH (since the protocol merged from proof-of-work to proof-of-stake last year) to withdraw their staked ETH for the first time.

This, notes Angliss, will affect approximately 18+ million ETH (about 15% of all ETH in circulation), worth tens of billions of dollars.

So, why is this not completely bearish? Why, if all this ETH can now potentially flood back into the market, have we instead seen a rise in Ethereums price since this upgrade?

To answer that, Angliss explained that the release of ETH is staggered in such a way to completely avoid a flood of ETH onto the open market. The staked ETH is being made available to withdraw at a rate of just 0.4% of the total staked ETH per day.

Angliss alsopointed us to an article entitled Shapellas Show by the well-known crypto analyst Arthur Hayes. Hayes is a candid and often insightful market observer and billionaire investor, who is also something of a controversial figure after being sentenced in May last year to two years probation with six months home detention after pleading guilty to a lack of anti-money laundering compliance at his former exchange, BitMEX.

Hayes noted that the Shapella upgrade is a significant turning point for the Ethereum staking landscape, and is expected to drive the adoption of more decentralized and non-custodial solutions in the ecosystem.

One of the byproducts, however, notes Hayes and reiterates the Apollo analyst is that the new upgrade presents a challenge to existing custodial staking business models, such as Lido Finance and centralised services like Coinbase, Kraken, and Binance, as users now have more options and may seek non-custodial alternatives.

Thats not to say, notes Angliss, that the liquid-staking protocols weve discussed in this column before no longer have a use case or strong thesis. The landscapes definitely changed for them, but the Shapella upgrade is still a net positive for liquid-staking protocols, he says.

Moving on, lets talk about a particular protocol, and one Angliss and Apollo are extremely bullish on zkSync.

Weve discussed this one briefly before but to just to recap, zkSync is one of several new layer 2 scaling solutions to emerge for the Ethereum blockchain, and its a developing DeFi ecosystem in its own right.

Angliss and Apollos interest in it centres around respect for its technology and potential network effect. Angliss says that zkSync is the key protocol utilising the most effective scaling technology ZK rollups. (Arbitrum and Optimism use different cryptographic tech called optimistic rollups).

ZK rollups rely on mathematics to validate the rollup, Angliss has explained to us in a previous article, while Optimistic rollups rely on the observers of the layer 1 contracts to invalidate incorrect transactions.

The upshot is that Optimistic rollups are slightly slower and more expensive than zkSync.

The protocol does not have a token yet. More on that in a sec, but whats exciting right now, says the analyst, is that its going from strength to strength in terms of usage and TVL (total value locked from participants on the network).

In fact, as Angliss points out, the zkSync TVL has grown impressively in a short space of time from US$27 million to more than US$119 million about 4x in just a few weeks.

The zkSync protocol recently launched its completely EVM-compatible (Ethereum-chain compatible) update, which is known as zkSync Era.

And within that protocol, there still lies an opportunity to engage and potentially obtain an airdrop bounty of future tokens, bearing in mind that most who managed to get the ARB drop ended up with at least 625 tokens, which is worth about US$1,000 at the time of writing.

Also, the leading DEX (decentralised exchange) in the zkSync ecosytem, SyncSwap, has announced it will have a token, too, and will reward users of its exchange through a loyalty program.

And finally, Angliss pointed us to what he describes as a degen strategy for maximising funds and rewards within the zkSync ecosystem.

Obviously this comes with the caveat of extreme caution needed when engaging in degen DeFi strategies, he explains. But essentially what you can do is deposit ETH or USDC on a zkSync app called Nexon Finance and borrow against that. You can then essentially keep looping to leverage your position.

Bearing in mind, of course, there needs to be a good deal of liquidity flowing through this borrowing and lending system for it to work as intended.

So, broadly speaking, does Angliss believe engaging and participating in the zkSync network, using strategies such as this and attempting to get the ecosystems rewards and airdrops will be well worth spending time on?

Put it this way. Look at how well protocols like GMX (GMX) and Gains Network (GNS) have done. You have a chance right now to interact with a protocol in its infancy that could well achieve that level of success or greater, which is looking to reward early users and adopters.

Final note: Twitter is currently innundated with airdrop hunters offering advice on how to farm upcoming airdrops, including the likes of zkSync, LayerZero and others. For some solid tips, we recommend checking out these two accounts: @milesdeutscher and @OlimpioCrypto.

Also, CoinGecko wrote a good, simple-to-follow piece on How to enhance your eligibility for the potential zkSync airdrop.

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Apollos Alpha: Talking Shapella, Ethereum, the hyped zkSync protocol and potential token rewards - Stockhead