Yesterday Coinbase announced the listing of Algorand (ALGO). Therefore, the cryptocurrency is now available on the exchange where users can buy, sell and convert SOMETHING.
The news is a surprise despite a previous announcement about the inclusion of ALGO in Coinbase Pro, which, as of July 21, will also include other assets such as Tezos (XTZ), Chainlink (LINK) and Ripple (XRP).
Despite the fact that Coinbase has accustomed us to seeing a first listing on the Pro platform and only later on the main one, this time the team did not hesitate any longer and immediately wanted to include the cryptocurrency in Coinbase and not only in the PRO version.
We recall that Coinbase PRO is the most complex platform intended for professional users such as merchants, while Coinbase has a simplified interface.
Furthermore, 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 for list on the stock exchange in the future.
One of the advantages of using this exchange is that it is possible to buy cryptocurrencies directly with fiat, but also with crypto.
For its part, Algorand continues to grow and make people talk about it, think, for example, of the recent development of the first game on this blockchain, called SomethingNim.
Additionally, a partnership with Chainalysis was recently formed to integrate a transaction monitoring and analysis tool.
The stablecoin USDC has also recently chosen to land on Algorand, as has Tether.
As mentioned, the asset is now available on Coinbase, which also has an app on iOS and Android.
The listing on Coinbase has given a boost to the Algorand price, which recently registered a 22% increase.
The news was positively received by a prominent member of the cryptocurrency community: Charles Hoskinson, who on Twitter expressed his praise to the team and Silvio Micali:
Congratulations guys. Really proud of you @silviomicali
– Charles Hoskinson (@IOHK_Charles) July 17, 2020