Coinbase announces listing of several Ethereum-based tokens

The cryptocurrency exchange Coinbase has added support for IoTeX (IOTX), Orion Protocol (ORN), Tribe (TRIBE) and TerraUSD (UST) on the Ethereum network.

IOTX, ORN, TRIBE & UST are launching on https://t.co/bCG11KMQ6s & in the iOS & Android apps within the next 15 mins. You may need to update your app to buy, sell, convert, send, receive or store IOTX, ORN, TRIBE & UST. We will update when all are live. https://t.co/4VlE7uQtM6

— Coinbase (@coinbase) August 11, 2021

Assets are available to users via the online platform and the company’s Android and iOS apps. Trading of the coins is also supported on Coinbase Pro.

Following Coinbase’s listing, the IoTeX platform token’s price surged by nearly 42%, rising from an opening price of $0.116 to as high as $0.165. However, during the subsequent dip the asset traded down to $0.108 at the time of writing.

The price of the Orion Protocol token, which aims to aggregate liquidity from centralized and decentralized exchanges on a single platform, also rose from the open. The ORN price climbed from $9.90 at the open to $10.48. After a correction the token trades at around $9.70.

Tribe (TRIBE) is the governance token of the Fei protocol, which issues a dollar-backed decentralized stablecoin called FEI. The price of TRIBE on Coinbase followed the trajectory described above — rising from $0.756 to $0.808, then correcting. At the time of writing quotes are around $0.73 below the opening price.

The decentralized stablecoin TerraUSD (UST) is pegged to one dollar. The coin is not backed by fiat reserves or securities. To mint one UST, Terra’s reserve asset LUNA must be burned for $1.

In the second quarter of 2021, Coinbase posted revenue of $2.2 billion amid a market downturn.