Little-Known Altcoin on Ethereum Soars 1,288% in Just One Week, Surpassing $400,000,000 Market Cap

A low-cap Ethereum token has printed massive gains this week after being listed by top US crypto exchange Coinbase.

Coinbase Pro listed the altcoin Circuits of Value (COVAL) on Monday. The exchange then added retail support for COVAL on Coinbase.com and its mobile apps on Thursday.

COVAL is the Ethereum token behind the Emblem platform, which enables users to combine Ethereum (ETH), ERC-20 and non-fungible tokens (NFTs) to create a transfer token known as a Vault.

Circuits of Value is up a staggering 1,288% this week after soaring from a seven-day low of $0.018 to a fresh all-time high of $0.25 on December 11th, according to CoinGecko.

COVAL’s market cap, which hovered around $42 million on December 5th, briefly skyrocketed past $414 million as the coin rallied to record highs.

COVAL has retraced since and is now trading $0.19 with a market cap of $348 million. COVAL is currently ranked as the 209th-largest crypto asset by market capitalization.

Circuits of Value is also trading on the crypto exchanges Uniswap and Stex.

Coinbase has listed droves of new altcoins in the past few weeks. Brian Armstrong, the exchange’s chief executive, said this past summer that the company was hustling to add support for as many different cryptos as possible.

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

Featured Image: Shutterstock/Lyudmyla Ishchenko/S-Design1689/Sensvector