Avalanche (AXAX) Decentralizes Altcoin Exchange Skyockets After Coinbase List Announcement

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US crypto exchange giant Coinbase is adding its first avalanche-based token (AVAX) to its list of alternative digital currencies.

The largest digital asset exchange in the United States Advertising It will support Pangolin (PNG) trading from October 6 once the liquidity conditions are met.

The token is the origin of the Pangolin decentralized exchange (DEX), which runs on the Avalanche Network. The platform allows users to trade, stake, farm and link crypto assets from different blockchains.

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Coinbase will add support for Pangolin (PNG) on the Avalanche Network. Pangolin (PNG) is the first Avalanche ARC-20 token to be offered on our exchange. Do not send this asset to other networks or you may lose your money.

Inbound transfers for this asset are available on Coinbase and Coinbase Exchange in regions where trading is supported.

Coinbase says PNG will contain the demo asset label that the exchange designates for tokens that are newly supported on the platform or those with a relatively low trading volume. Coinbase may remove the tag depending on market conditions.

“We constantly monitor assets on our platform and may remove the flag when an asset does not meet the criteria.”

After the Coinbase announcement, the price of Pangolin increased by more than 33% in the past 24 hours. At the time of writing, the asset is trading at $0.108.

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Disclaimer: The opinions expressed in The Daily Hodl are not investment advice. Investors should perform their due diligence before making high-risk investments in bitcoin, cryptocurrency or digital assets. Please note that your transfers and transactions are at your own risk and any loss you may incur is your responsibility. The Daily Hodl does not recommend buying or selling cryptocurrencies or digital assets, and The Daily Hodl is not an investment advisor. Please note that The Daily Hodl is involved in affiliate marketing.

Featured Image: Shutterstock/Tithi Luadthong/Alex_Bond

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