Ethereum Altcoins Experience Major Surge After Coinbase Listing
Mar 29, 2025
2 min read
Top US-based cryptocurrency exchange Coinbase has announced the addition of three Ethereum-based altcoins to its platform, leading to significant price increases for these digital assets. The announcement, made via social media, has sparked renewed interest and trading activity in the altcoin market.
Key Takeaways
Coinbase adds support for three Ethereum-based altcoins: AltLayer (ALT), Pendle (PENDLE), and Layer3 (L3).
All three altcoins experienced notable price surges following the announcement.
AltLayer saw an increase of 8.3%, Pendle rose by 3.7%, and Layer3 surged by 17.5%.
Coinbase's New Additions
Coinbase's decision to add AltLayer, Pendle, and Layer3 comes as part of its ongoing efforts to expand its offerings and provide users with more diverse investment options. The exchange first included these altcoins in its listing roadmap on March 21, which is designed to enhance transparency and prevent front-running of new tokens.
Price Movements
The price movements of the three altcoins following the announcement are as follows:
Altcoin | Price on March 26 | Peak Price | Current Price | Percentage Gain |
|---|---|---|---|---|
AltLayer | $0.037 | $0.041 | $0.0407 | 8.3% |
Pendle | $2.83 | $2.99 | $2.95 | 3.7% |
Layer3 | $0.087 | $0.106 | $0.104 | 17.5% |
AltLayer (ALT)
AltLayer is a decentralized roll-up protocol that enhances scalability for Ethereum-based applications. Following the Coinbase announcement, its price jumped from $0.037 to a peak of $0.041 before stabilizing at $0.0407, marking an 8.3% increase.
Pendle (PENDLE)
Pendle is a decentralized finance (DeFi) network that focuses on tokenizing yield-bearing assets. Its price rose from $2.83 to a peak of $2.99, currently trading at $2.95, reflecting a 3.7% gain.
Layer3 (L3)
Layer3 is an innovative platform that gamifies the learning experience for users interested in Web3 technologies. Its price surged from $0.087 to a peak of $0.106, now trading at $0.104, which is a remarkable 17.5% increase.
Market Implications
The surge in these altcoins highlights the impact that major exchanges like Coinbase can have on the cryptocurrency market. As more investors look for opportunities in the altcoin space, the addition of new tokens can lead to increased trading volumes and price volatility.
Conclusion
The recent announcement by Coinbase has not only boosted the prices of AltLayer, Pendle, and Layer3 but also reflects the growing interest in Ethereum-based projects. As the cryptocurrency market continues to evolve, such developments are likely to attract more attention from both retail and institutional investors, potentially leading to further price movements in the future.
Sources
Three Ethereum-Based Altcoins on the Rise Following Coinbase Announcement, The Daily Hodl.