Ethereum-Based Altcoins Explode As Crypto Titan Coinbase Announces Support

Two Ethereum-based altcoins are skyrocketing in price after being included in the latest batch of new crypto assets on Coinbase Pro.

POWR, the utility token for peer-to-peer energy platform Power Ledger, has shot up by 120% from a low of $0.35 to its current price of $0.79 at time of publishing.

Power Ledger enables investors to buy and sell electricity, and it supports a variety of energy projects including electric cars, wind power and solar power.

Coinbase Pro says it is listing the Ethereum-powered version of the crypto asset paired with the US dollar, the euro and Tether (USDT).

GALA, the Ethereum-based asset for the player-controlled blockchain gaming platform Gala, surged over 46% from a low of $0.089 on November 15th to its current trading price of $0.13.

Gala allows players to own their in-game items and determine the direction of the game’s development. The GALA token is used as a medium of exchange and as a means of payment and settlement in the ecosystem.

Coinbase Pro also listed ALCX, ENS and mStable USD (MUSD) on Monday, though none of those three assets saw significant price gains.

ALCX is the native governance and staking token on the decentralized finance (DeFi) platform Alchemix, an automated yield farming, lending, borrowing, and staking protocol that uses tokenized yield funds to repay debts.

ENS is a governance token for Ethereum Name Service, which allows people to mint non-fungible tokens (NFTs) that can be linked to Ethereum addresses and web domains.

ENS more than doubled in value last week after being listed by Binance, though it has since lost the majority of those gains.

MUSD is a decentralized, US dollar-pegged stablecoin that runs on Ethereum and is backed by a basket of other stablecoins.

None of the five assets are available yet on Coinbase.com or the exchange’s retail mobile apps.

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