Top US crypto exchange Coinbase is rolling out trading support for an under-the-radar cross-chain bridge altcoin built on Ethereum (ETH).
Stock market customers can act now Multichain (MULTI), a cross-chain protocol that goals to be “the ultimate router for Web 3.0”.
The project, formerly known as Anyswap, was launched in July 2020 and has incorporated $103.45 billion in total volume. It currently supports 92 different chains.
Multichain currently ranks third among all cross-chain bridge projects in terms of total value locked (TVL), with $1.8 billion at the time of writing, according to DeFiLlama.
A blockchain’s TVL represents the total capital held within its smart contracts. TVL is calculated by multiplying the amount of collateral locked into the network by the current value of the assets.
MULTI, the protocol governance token, is trading at $9.12 at the time of writing. The 199th-ranked crypto asset by market capitalization is down 3.73% in the past 24 hours and more than 5.1% in the past seven days.
The token is also down nearly 73% from its all-time high of $33.64, which it reached in January 2022.
Coinbase announced last month that it would add MULTI to its listing roadmap. The exchange made last year’s listing roadmap to increase transparency and reduce the likelihood of them leading their listing announcements.
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Image generated: Midway through the journey
