Altcoin Project Explodes 650% After Crypto Giant Coinbase Announces Partnership

An under-the-radar altcoin project is melting portfolios after partnering with the top US crypto exchange Coinbase.

In a new announcement, Coinbase says it will work alongside developers of the cryptocurrency wallet platform Bread (BRD). The move will soon give current users the option to custody their holdings on Coinbase Wallet.

“We have great news – the BRD team will be joining Coinbase Wallet to help accelerate web3 adoption.

The team brings deep expertise in self-custody for crypto wallets, which will help Wallet enable more people to safely and securely access the decentralized world of crypto.”

Bread CEO and co-founder Adam Traidman says,

“Since BRD wallet originally launched as the open-source ‘breadwallet’ app in 2014, we have been dedicated to expanding mainstream adoption of cryptocurrency with a focus on decentralization, security and customer-controlled funds.

Today, we would like to share the news that members of our team will be continuing our mission at Coinbase, where we will work together to bring the power of decentralization to even more users around the globe.”

BRD had been trading fairly flat within the $0.17 to $0.25 range for the past several months, before exploding over 650% after word of the Coinbase takeover spread.

Source: Crypto Markets

The altcoin rocketed from $0.16 all the way to $1.51 on Wednesday. At time of writing, BRD has retraced to $.89.

Coinbase says the BRD team will help grow Web 3.0, a developing vision of the internet where decentralization and blockchain technologies, as opposed to corporations with walled gardens, become key elements.

Bread says it has over 10 million customers worldwide, with more than $20 billion in assets under protection.

The acquisition price has not yet been disclosed.

Check Price Action

Don’t Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox

Follow us on Twitter, Facebook and Telegram

Surf The Daily Hodl Mix

&nbsp
Check Latest News Headlines

 

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/DM7/Vladimir Sazonov


Be the first to comment

Leave a Reply

Your email address will not be published.


*