Altcoins
Ethereum (ETH)-based ‘legacy’ altcoin surges over 50% on new Coinbase listing
A gaming altcoin built on Ethereum (ETH) is up 50% after suddenly being listed on major US cryptocurrency exchange Coinbase.
In a new post on social media platform X, Coinbase said It now lists the ETH layer-2 gaming blockchain Ancient8 (AT 8) with an experimental label, meaning the asset might have low trading volume and high volatility.
“Ancient8 is now available on coinbase.com and in 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.”
According to the official A8 website, the protocol uses Ethereum Optimism Scaling Solution (OP) to significantly improve performance and reduce costs when developing games.
“As a pioneering gaming ecosystem on the Optimism Superchain, Ancient8 leverages OP Stack Layer2 technology to bring the best of Ethereum to blockchain gaming without any code changes required, at a significantly lower cost.”
Ancient8, which first launched its testnet in 2023, currently offers five games: Onchain Clash, Omnizone, MasterDuel, Wee Pepe, and DeWorld. The project claims it sees a future where gaming, interoperability, and decentralization seamlessly intertwine.
“In the future, Ancient8 aims to strengthen the decentralization of the network and build a strong gaming community. With this goal in mind, we envision an ever-evolving gaming Web3, where decentralized technology and community collaboration coexist in harmony.”
The news sent A8 prices from a 24-hour low of $0.172 to a 24-hour high of $0.261, a 51% jump. The token has since corrected, trading at $0.194 at the time of writing.
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Featured image: Shutterstock/Yurchanka Siarhei