Ethereum (ETH)-based altcoin projects have quietly outperformed the market, rising in a parabolic fashion following approval from top US cryptocurrency exchange Coinbase.
According to Coinbase, Magic (MAGIC) is currently on a listing roadmap created as a way to promote transparency and prevent insider trading on listings.
MAGIC is the token powering Treasure DAO, a project aiming to be a decentralized video game console that incorporates games and non-fungible tokens (NFTs). Treasure DAO’s infrastructure includes Trove, an NFT marketplace on Ethereum scaling solution Arbitrum, and a competitive gaming platform called Bridgeworld.
MAGIC has a market cap of just over $100 million and has seen a significant increase in the last few days.
After hitting a local low of $0.23 on November 22nd, MAGIC consolidated for about a week before Coinbase announced it would put the altcoin on its listing roadmap.
MAGIC quickly climbed to $0.62, up 169% from its November low and up 138% after Coinbase’s announcement.
At the time of writing, MAGIC is trading at $0.53.
Coinbase has not yet officially listed MAGIC, and assets placed on the exchange’s listing roadmap may not necessarily get full support.
Top US crypto exchanges have put MAGIC on their roadmaps, along with decentralized governance platform Aragorn (ANT) and Ethereum staking pool Rocket Pool (RPL).
Don’t miss a beat – subscribe to get encrypted email alerts delivered straight to your inbox
Price action confirmation
Please follow us twitterfacebook, telegram
Surf The Daily Hodl Mix
 
Disclaimer: Opinions expressed on The Daily Hodl are not investment advice. Investors should exercise caution before making risky investments in Bitcoin, cryptocurrencies or digital assets. Please note that your money transfers and transactions are made at your own risk and you are responsible for any losses you may incur. The Daily Hodl does not endorse the buying or selling of cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/Salamahin/Mia Stendal
