Coinbase announces the addition of ZORA, a new asset from the Zora Network, to its listing roadmap. ZORA aims to create an innovative social network and has been trading since its recent launch. The asset is a layer-2 Ethereum protocol and offers unique rewards for creators. Coinbase’s listing roadmap enhances investor transparency. The exchange’s CEO aims to increase crypto asset listings while investors are cautioned about the risks.
Coinbase, a prominent US cryptocurrency exchange, has added ZORA, the native token of the Zora Network, to its listing roadmap. This new asset is tied to an on-chain social network and is part of a layer-2 protocol built atop Ethereum (ETH). The inclusion on Coinbase’s roadmap indicates that trading support for ZORA could be coming soon, which is noteworthy for investors and users on the platform.
The Zora Network aims to revolutionise how content is valued and exchanged online. Its website mentions, “Zora’s mission is to make the internet valuable and free… that’s why we’re building a social network that makes tokenizing and trading posts easy, fun, and rewarding.” Creators on Zora can benefit from two separate reward systems: Trade Rewards and Market Rewards, incentivising trading activities.
ZORA hit the market just recently, launching on Wednesday with a current trading price of $0.022. Although it’s currently sitting at 606th place by market capitalisation and has experienced a drop of approximately 20% since its launch, good news for investors: it’s edged up over 3% in the last 24 hours.
Being added to Coinbase’s listing roadmap means the exchange is actively considering ZORA for trading soon. This move is part of an initiative started in 2022 aimed at adding transparency to the listing process, helping to diminish the risk of investors being front-run on new trading announcements.
Brian Armstrong, Coinbase’s CEO, has previously communicated the exchange’s goal to list as many cryptocurrencies as feasible, provided they adhere to the company’s standards. Investors looking to dive into ZORA should keep a close eye on future updates from Coinbase as trading options could arise soon.
As always, anyone interested in trading cryptocurrencies is advised to conduct their own research before making any investment decisions. The Daily Hodl reminds readers that trading involves risks, and losses are the sole responsibility of the trader. Also, note that the site engages in affiliate marketing, impacting its content.
