Recently Coinbase Custody, Coinbase subsidiary for the deposit of crypto currencies, announced that it will support six new crypto currencies. One of them is NuCypher (NU), which was also listed at Coinbase yesterday, December 3rd.
Coinbase Custody brings six new coins for institutional investors
Yesterday Coinbase Custody announced the six new crypto currencies on Twitter. The exchange revealed that NuCypher (NU), REN (REN) Curve (CRV), wBTC (WBTC), tBTC (TBTC) and DFI Money (YFII) are now available for deposits and withdrawals.
Coinbase Custody now supports deposits and withdrawals for NuCypher ($NU), Curve ($CRV), REN ($REN), wBTC ($WBTC), tBTC ($TBTC) and DFI Money ($YFII) https://t.co/y4NV8jgtUP pic.twitter.com/ePxLaJARIJ- Coinbase Custody (@CoinbaseCustody) 3 December 2020
The addition comes one and a half months after the announcement in October that Coinbase Custody was considering a number of coins for possible inclusion in the list.
Although Coinbase Custody is a subsidiary of Coinbase, Coinbase Custody is a separate service aimed at providing fiduciary services to institutional investors. In other words, the fact that these coins are supported by Coinbase Custody in no way guarantees that they will necessarily appear on Coinbase or Coinbase Pro.
This of course does not apply to NuCypher, which was already listed on Coinbase yesterday. The community of the swap meet is constantly requesting new coins, and Coinbase is ready to meet these requests. Of course the coins still have to go through the strict controls and comply with the regulations, and it seems that NuCypher has passed its tests.
Listed coins have seen remarkable price increases
Since the announcement of the stock exchange listing, NuCypher has seen a strong increase of 130%. Following the announcement that the coin is also supported by Coinbase Custody, its price has risen by a further 13%.
As for the other coins, the fact that they are supported by Coinbase Custody means that the listed coins will be much more accessible to institutional investors.
The announcement also increased their prices. CRV, for example, rose by 8%. The REN price increased by 3% and the YFII price increased by 2.5%. wBTC and tBTC are Ethereum-based versions of Bitcoin, so their prices reflect the prices of BTC itself, which is currently struggling to take the final step to reach its old ATH.