In a latest development, Coinbase has officially announced the listing of Swell (SWELL) on its platform. Coinbase previously had that announced its plan to add support for Swell (SWELL) to the Ethereum network (ERC-20 Token).
Following the listing announcement, the exchange noted that Swell (SWELL) is now live on Coinbase.com and on the Coinbase iOS and Android apps with the Experimental label. Coinbase customers can log in to buy, sell, convert, send, receive, or store these assets.
SWELL is making strides
Swell Network is making significant progress in the Ethereum ecosystem with its advanced liquid staking platform. It emerges as a decentralized, non-custodial liquid staking protocol that allows users to stake their Ethereum and earn passive income through blockchain rewards. I It is designed for stakers, node operators, and the broader Ethereum community, allowing users to stake ETH and receive swETH tokens.
In addition to representing staked ETH, these tokens also generate yield rewards in the DeFi space. In exchange for staking their ETH, participants receive a yield-bearing liquid staking token (LST), which represents their staked assets plus earned rewards. The network’s innovative L2 Proof of Restake mechanism strengthens security, improves liquidity, and enhances asset utilization, making Swell a strong competitor for ETH stakers.
SWELL registers huge increase in price and volume after listing
SWELL’s listing on Coinbase is an important milestone for the token. Following the news, SWELL’s price and trading volumes increased. At the time of writing, SWELL is trading at $0.05061, up over 60% in the last 24 hours. Swell’s 24-hour trading volume is also up more than 140% to $322.33.
With a total value (TVL) of $1.28 billion, Swell’s growing presence in the market reflects its growing appeal and potential in the crypto space.
Credit : coinpedia.org
