Coinbase Custody Adds Support for Nine Altcoins As Crypto Markets Crash

Coinbase is continuing to expand its crypto footprint by extending custodial services support to a variety of altcoins.

In a new announcement, the US-based cryptocurrency exchange says it’s adding nine cryptocurrencies to its roster of 200+ assets that are part of the Coinbase Custody cold storage trust.

Coinbase Custody now supports deposits and withdrawals for $ERN, $TTT, $DPX, $SNT, $NCT, $SURE, $RFOX, $ALICE, and $AERGO.
Details here ? https://t.co/HtybLZye3z pic.twitter.com/G728MmRm54
— Coinbase Assets (@CoinbaseAssets) May 10, 2022

Coinbase Custody is a custodial service for institutional investors with big money. It’s chartered in New York State and designed to give clients a highly secure way to store large amounts of cryptocurrency.

First getting the nod from Coinbase is Ethernity Chain (ERN), a sports-based non-fungible token (NFT) marketplace endorsed by a number of star athletes including Lionel Messi and Shaquille O’Neal.

Ethernity Chain is currently off by nearly 20% and is valued at $1.65. ERN has lost 50% since Monday when the altcoin was trading for $3.33.

Next up is The Transfer Token (TTT), an Ethereum-based digital asset created by the Japanese financial technology (FinTech) firm Atom Solutions. Users can lend out the TTT token on its Eternal Wallet.

The Transfer Token is off by 4.5% and changing hands for $3.52.

Also joining the Coinbase cold wallet roster is Dopex (DPX), a decentralized options exchange that aims to maximize liquidity while also preventing investor losses.

At time of writing, Dopex has lost nearly 30% of its market valuation and is priced at $456.70. DPX was trading for nearly $950 on May 5th.

Status Network (SNT) offers users a secure messaging app, crypto wallet and Web3 browser via an open-source, peer-to-peer protocol and end-to-end encryption.

Currently, Status Network has dropped by nearly 20% and is priced at $0.030. Last Thursday SNT was trading for $0.053.

Also added to the Coinbase Custody slate is the threat detection and anti-malware project Polyswarm (NCT), whose native token NCT rewards users who assist in the collection of cybersecurity data and insights.

Polyswarm is mirroring the rest of the crypto markets, down 16.38% today at $0.017.

Next up is inSure DeFi (SURE), an insurance ecosystem for the blockchain realm that helps protect users of decentralized finance, NFT and metaverse gaming.

At time of writing, inSure DeFi is off by 11.46% with a going rate of $0.00402.

Also joining the Coinbase cold wallet roster is RedFOX Labs (RFOX), a metaverse-focused project that aims to bring immersive gaming experiences across multiple blockchains.