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Cross-Chain Bridge Altcoin Jumps As Coinbase Suddenly Announces Trading Support

August 21, 2024

The native token of a cross-chain bridge project is in the green after top US crypto exchange Coinbase suddenly announced its trading support.

In a new Coinbase announcement, the platform says it is listing cross-chain bridge Across Protocol (ACX) for trading over the Ethereum (ETH) network.

“Trading will begin on August 21st, 2024 at or around 12 pm ET if liquidity conditions are met. Once sufficient supply of this asset is established trading on our ACX-USD trading pair will launch in phases. Support for ACX may be restricted in some supported jurisdictions.”

Across Protocol jumped from a low of $0.371 to a high of $0.419 in the last 24 hours, a gain of nearly 11%. ACX, ranked the 271st digital asset by market cap, is trading for $0.39 at time of writing, up nearly 25% in the past two weeks.

Coinbase is adding the “experimental” label to ACX, which the platform uses for tokens that pose certain risks such as price swings and canceled orders because of lower trading volume and availability.

According to the project developers, Across Protocol is a cross-chain bridge protocol powered by intents, an order type where users specify outcomes rather than execution paths. The project aims to be the fastest and lowest-cost way to transfer value between blockchains without compromising security measures.

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