Top US crypto exchange Coinbase is expanding support for a little-known Ethereum-based altcoin across its full retail platform.
The Biconomy (BICO) token is now available on Coinbase.com and the exchange’s mobile apps. Coinbase Pro listed the crypto asset earlier this week, triggering a massive rally.
BICO is an Ethereum-based governance token for the Biconomy Network, a multichain platform that aims to connect its users’ wallets with decentralized applications.
Node operators can use the crypto asset to pay transaction fees, and BICO holders can vote on decisions affecting Biconomy’s protocol and network.
The token also went live on Huobi, Bybit, OKex, SushiSwap, BitMart, MEXC Global and Crypto.com’s mobile app this week, according to the project’s Twitter account.
Additionally, Biconomy rolled out a rewards and airdrop program on Wednesday.
After skyrocketing 200% on Wednesday, BICO is trading at $9.32 at time of writing and has retraced 37% in the past 24 hours.
Coinbase added support for BICO amid a flurry of new altcoin listings over the past several months. The exchange’s chief executive, Brian Armstrong, noted in July that they plan to list as many altcoins as possible.
“Reminder about how Coinbase lists assets: our goal is to list every asset where it is legal to do so.”