Aleo, a privacy-focused blockchain, is seeing a surge in its token price after being listed on Coinbase, the largest US crypto exchange by trading volume.
Coinbase Listing Fuels Growth
Just yesterday, Coinbase added Aleo (ALEO) to its platform under the “experimental” label. This means the exchange considers it a high-volatility asset, new to the market. Despite this, Aleo has seen a significant increase in trading volume since its listing.
Aleo’s Focus on Privacy
Aleo’s blockchain is built on zero-knowledge proofs, a technology that allows users to prove they have enough funds to complete a transaction without revealing their actual balance or transaction details. This focus on privacy is a key selling point for the platform.
Coinbase Partnership Extends Beyond Listing
Aleo has announced a broader partnership with Coinbase, including support for custody, rewards programs, and staking. Aleo CEO Alex Pruden said, “We chose Coinbase because of their unmatched experience and robust infrastructure. Their integrated product offerings are exactly what we need to support the successful launch and long-term growth of the Aleo Network.”
Aleo’s Price Action
Since its listing, Aleo’s token price has risen about 6%, currently trading at $3.39.
Disclaimer: This information is for general knowledge and should not be considered investment advice. Always conduct your own research before making any investment decisions.
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