Yesterday Coinbase listed Algorand (ALGO). The crypto is thus available on the exchange where users can buy, sell and convert ALGO.
The news comes as a surprise despite a previous announcement about ALGO’s listing on Coinbase Pro, which – as of July 21st – also includes other assets such as Tezos (XTZ), Chainlink (LINK) and Ripple (XRP).
Even though Coinbase has accustomed us to see a first listing on the Pro platform and only then on the main one, this time the team didn’t hesitate any longer and immediately wanted to list the crypto on Coinbase and not only on the PRO version.
We recall that Coinbase PRO is the more complex platform intended for professional users such as traders, whereas Coinbase has a simplified interface.
Moreover, we should not forget that Coinbase also has a large user base of institutional investors and recently acquired Tagomi to expand in this direction.
An expansion that will also include a future IPO in order to be quoted on the stock exchange in the future.
One of the advantages of using this exchange is that it is possible to directly buy crypto with fiat, but also with crypto.
For its part, Algorand continues to grow and to have people talk about it, think for example about the recent development of the first game on this blockchain, called AlgoNim.
Furthermore, a partnership with Chainalysis to integrate a monitoring and analysis tool for transactions was recently formed.
The USDC stablecoin has also recently chosen to land on Algorand, as did Tether.
As mentioned, the asset is already available on Coinbase, which also has an app on iOS and Android.
The listing on Coinbase has given momentum to the price of Algorand, which today is registering a 22% gain.
The news was positively received by a prominent member of the crypto community: Charles Hoskinson, who on Twitter expressed his compliments to the team and Silvio Micali:
Congratulations guys. Really proud of you @silviomicali
— Charles Hoskinson (@IOHK_Charles) July 17, 2020
As if to say that the crypto world can also be healthy competition.