Coinbase continues to expand its capabilities by including a large number of alternative cryptocurrencies into its spot and futures trading platforms.
Coinbase has made it public that it has added support for Swell (SWELL) on the Ethereum network (ERC-20), which means that it is now accessible for transactions on Coinbase. The recommendation is for users to refrain from transmitting SWELL over other networks in order to mitigate the risk of financial loss.
With the development of its cutting-edge infrastructure for liquid staking, Swell Network is making significant progress within the Ethereum ecosystem. By enabling users to stake Ethereum and acquire swETH tokens, Swell caters to the needs of stakers, node operators, and the Ethereum community as a whole.
In addition to being a representation of the Ethereum that has been staked, these tokens also earn yield incentives within the decentralized finance (DeFi) market. In order to present Swell as a formidable competitor for Ethereum stakers, the network’s cutting-edge L2 Proof of Restake mechanism promotes security, improves liquidity, and enhances asset usage.
The expanding market presence of Swell, which has a total value locked (TVL) of $1.28 billion, is a reflection of the cryptocurrency giant’s growing attractiveness and potential in the cryptocurrency field.
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