After receiving a significant boost from Coinbase, a new crypto asset in the decentralized finance (DeFi) industry is skyrocketing.
Harvest Finance (FARM), a yield-farming platform, has launched on Coinbase Pro.
The asset’s price soared by as much as 160 percent in a couple of hours as knowledge of the new inclusion circulated.
Harvest Finance is an optimization mechanism that moves funds across the DeFi sector of the cryptocurrency economy in order to maximize returns. The FARM asset is utilized in staking and combines with the farming process.
FARM, like the rest of the altcoin market, was heavily impacted by the huge crypto reversal. FARM is down roughly 54% from a February high of $410 after a recent price gain to $187 at the time of publication.
Coinbase Pro now supports the Fetch.ai (FET) artificial intelligence protocol, the Paxos Standard (PAX) stablecoin, and the Polymath Network security tokens platform (POLY). At the time of writing, both FET and POLY were up roughly 15%.
Coinbase claims to be working hard to introduce additional assets as rapidly as possible. The corporation has designated numerous coins as under consideration on a regular basis, and 16 of them have yet to emerge on the exchange.