Sperax (SPA) surges in popularity after Coinbase listing

Recently, there has been a surge in the popularity of Sperax (SPA), which is an Arbitrum (ARB) altcoin, in the cryptocurrency market. This can be attributed to reports indicating that the leading cryptocurrency exchange in the US, Coinbase, has added support for SPA. As a result, SPA has been making significant gains and generating a lot of attention within the crypto community.

Coinbase will add support for Sperax (SPA) on the Arbitrum network (ERC-20 tokens). Do not send this asset over other networks or your funds may be lost. Transfers for this asset are available on @Coinbase & @CoinbaseExch in the regions where trading is supported.

— Coinbase Assets 🛡️ (@CoinbaseAssets) May 2, 2023

The Sperax project focuses on constructing DeFi products that enable access to layer-1 and layer-2 blockchains. They aim to create a decentralized financial system that provides users with greater flexibility and choice. By leveraging the capabilities of multiple blockchains, Sperax seeks to build a more inclusive and accessible DeFi ecosystem.

Last month, the U.S.-based crypto exchange platform added Sperax to its roadmap to promote the adoption of the SPA token and prevent any irregularities in the Sperax network. Consequently, the SPA token was listed on the exchange platform shortly after.

Coinbase crypto exchange will list Sperax with the experimental tag, which suggests the token has a lower trading volume than other major crypto tokens. This means that the token may experience limited liquidity on the exchange initially. However, it is still a positive development for Sperax as it gains exposure to a broader audience through Coinbase’s user base.

Reports indicate that Sperax is leading the charge in revolutionizing the stablecoin ecosystem. The SPA team is determined to create a comprehensive financial ecosystem centered around USDs, a stablecoin that aims to generate a yield from other protocols without staking or claiming. This ambitious goal showcases Sperax’s commitment to pushing the boundaries of what’s possible in decentralized finance.

Although Coinbase recently listed the Sperax token, the SPA token is experiencing a bearish sentiment, causing it to trade at $0.01141 after a 19.03% price decrease in the last 24 hours. Nevertheless, the trading volume of Sperax has increased by 22.28% to $18,256,640, indicating a possible price reversal in the market in the coming hours.

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