Coinbase Launches Trading in NEAR, AERO, VET, VTHO, PYUSD for Users in New York

Coinbase, the cryptocurrency exchange service, has recently broadened its offerings to its New York clientele by incorporating five additional cryptocurrencies. These new assets—NEAR, AERO, VET, VTHO, and PYUSD (ERC-20)—are now accessible for transaction on both the company’s website and its mobile app platforms for users located in New York.

Expansion of Coinbase’s Listings to Include NEAR, AERO, VET, VTHO, PYUSD

Coinbase has announced that a handful of digital currencies—specifically, NEAR Protocol (NEAR), Aero (AERO), VeChain (VET), VeThor Token (VTHO), and PayPal USD (PYUSD)—have been made tradeable for New Yorkers. Users in this region can now engage in purchasing, selling, exchanging, transferring, receiving, or safeguarding these assets on the exchange.

The introduction of these assets marks a significant enhancement to the array of digital currencies accessible to New York investors, underscoring Coinbase’s ongoing strategy to solidify its foothold in one of America’s tightest-controlled cryptocurrency markets.

New York users just got more choice with five additional assets 🗽

Residents of NY can now engage with NEAR, AERO, VET, VTHO, and PYUSD (ERC-20) on
Coinbase’s platform and through the iOS & Android mobile apps.
pic.twitter.com/Z1DCwjuObW

— Coinbase Assets 🛡️ (@CoinbaseAssets)
August 19, 2024

Conveniently, both the Coinbase website and its mobile apps for iOS and Android now provide streamlined access to these new assets, enabling New York’s cryptocurrency enthusiasts and investors to enhance their portfolios with greater options.

Previous Listings and Market Dynamics

Earlier in June, Coinbase also extended its portfolio for New Yorkers by listing five other digital assets including Render Token (RNDR), Hedera (HBAR), Akash Network (AKT), Helium (HNT), and Aptos (APT), with aims to amplify liquidity in their networks and invite more capital.

The continuous addition of tradable assets exemplifies Coinbase’s dedication to diversify the market offerings. As these new cryptocurrencies become available to New York traders and investors, it is anticipated to encourage both retail and institutional participation in the trading space.

Historically, the introduction of new listings on the exchange is often followed by noticeable market momentum. For example, the addition of XRP and the meme cryptocurrency Bonk saw an uptick in their values upon being listed in New York. While it remains to be seen how the market will react to the latest entries, they are expected to generate considerable interest.

Trends in Pricing for NEAR Protocol, AERO, VET, VTHO

Following the announcement from Coinbase, the prices of the newly listed currencies experienced minimal movement. NEAR Protocol (NEAR) went down by 1.69% to $3.94, and Aero (AERO) also saw a decrease of 2.70% bringing it to $0.639. On a brighter note, VeChain (VET) and VeThor Token (VTHO) enjoyed slight upticks of 0.37% and 1.17%, reaching $0.02285 and $0.002023 respectively. Meanwhile, PayPal USD (PYUSD) held a steady price at $1.00, up marginally by 0.05%.