An Ethereum (ETH)-based decentralized finance (DeFi) altcoin is on the rise after gaining support from the top US-based crypto exchange platform.
In a new thread, Coinbase says it is adding support for Euler (EUL), a lending and borrowing protocol built on top of the second-largest digital asset by market cap.
“Euler (EUL) is now live on http://coinbase.com and in the Coinbase iOS and Android apps. Coinbase customers can log in to buy, sell, convert, send, receive or store these assets.”
Following the announcement, EUL saw a price increase, rising from an August 6th low of $11.02 to a peak of $12.17 just a day later. The asset has since stabilized and is currently trading at $11.77, representing a 5.7% increase over the last 24 hours.
According to its official website, Euler is a modular DeFi platform that features permissionless vault creation, allowing anyone to create a lending vault for a specific asset using the ERC-4626 token protocol, an extension of the popula
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