Exchange Giant Coinbase Adds Support for Ethereum-Based Blockchain Video Game Altcoin As Markets Stumble

Cryptocurrency exchange Coinbase is listing the utility and governance token of Illuvium (ILV), an open-world fantasy battle game built on the Ethereum (ETH) blockchain.

According to the announcement by the largest crypto exchange in the US, consumers should only trade ILV on the ETH network.

“Coinbase will add support for Illuvium (ILV) on the Ethereum network (ERC-20 token). Do not send this asset over other networks or your funds may be lost. Inbound transfers for this asset are available on Coinbase and Coinbase Exchange in regions where trading is supported.”

Coinbase says trading of ILV is expected to start as early as Oct. 13.

“Trading will begin on or after 9 AM PT on 13 October 2022 if liquidity conditions are met. Once sufficient supply of this asset is established trading on our ILV-USD trading pair will launch in phases. Support for ILV may be restricted in some supported jurisdictions.”

Illuvium celebrated the news with its 344,700 Twitter followers.

“This is a really big step for Illuvium, and the community as a whole!”

The role-playing fantasy Illuvium game rewards players with NFTs (non-fungible tokens) and ILV tokens through completing walk-through adventures or playing against other players.

The price of ILV increased following Coinbase’s announcement, but the price later declined along with the rest of the markets following the worse than forecasted release of new US inflation data. Subsequently, the markets and ILV began to rebound.

ILV reached a high of $56.75 before dipping to $51.22. The price has since risen to $54.35 at time of writing.

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Featured Image: Shutterstock/Digital_Art/Sensvector