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Kava (KAVA), a Layer 1 blockchain network that combines the speed and interoperability of Cosmos with the developer power of Ethereum, recently announced that it has scored a listing on Coinbase exchange. The move is significant for the protocol's native token as the listing will open it up to a massive embrace and adoption to a whole new crop of users in the United States.
The listing has positively impacted the price of KAVA, which is up by 8.26% in the past 24 hours to $1.03. The update has positioned KAVA as one of the few altcoins in the top 100 that is still in the green at the time of this writing, with its weekly price growth up 43.28%, according to data from CoinMarketCap.
The Coinbase listing has been tagged as one of the most ambitious moves by the Kava team to showcase the uniqueness of the blockchain protocol around the world. The listing helped KAVA record a more than 1,700% surge in trading volume since it was announced.
As pointed out by market analyst @AltcoinPsycho, the listing is evidence that Kava is doing something right as Coinbase has generally struggled to list Cosmos-linked tokens.
This might seem like just another listing, but Coinbase has historically struggled to list Cosmos tokens due to technical limitations
— Psycho (@AltcoinPsycho) January 18, 2023
@Scott_Stuart_ and the Kava team deserve praise for getting this done, it will now be easier for *ANY* Cosmos token to be listed on Coinbase https://t.co/7Qd2WnyQA8
Vladislav SopovKava and new reality
The listing on Coinbase has changed the game for Kava and its native token. Besides the motivation the protocol now has to keep building and strengthening its ecosystem, it will have to innovate on the path of regulation in order not to come into the crosshairs of United States regulators.
Kava has also been deployed on Curve Finance; however, trading a token can be tough for U.S. citizens and residents and a bold move for any digital currency project. For Kava, it now has a bigger platform to show how it is bringing the two most used blockchain development environments together in a single, scalable network.
Tomiwabold Olajide
Dan Burgin
Alex Dovbnya
Vladislav Sopov