DeFi News Daily Official TheBitTimes.com

The native token of a cross-chain bridge project is in the green after top US crypto exchange Coinbase suddenly announced its trading support. In a new Coinbase announcement, the platform says it is listing cross-chain bridge Across Protocol (ACX) for trading over the Ethereum (ETH) network. “Trading will begin on August 21st, 2024 at or around 12 pm ET if liquidity conditions are met. Once sufficient supply of this asset is established trading on our ACX-USD trading pair will launch in phases. Support for ACX may be restricted in some supported jurisdictions.” Across Protocol jumped from a low of $0.371 to a high of $0.419 in the last 24 hours, a gain of nearly 11%. ACX, ranked the 271st digital asset by market cap, is trading for $0.39 at time of writing, up nearly 25% in the past two weeks. Coinbase is adding the “experimental” label to ACX, which the platform uses for tokens that pose certain risks such as price swings and canceled ord...

This protocol aims to cut out intermediaries and bring fast and easy asset exchanges across chains. Interoperability remains a persistent issue in the world of gazillion blockchains and interesting protocols and projects. The need for interoperability leads to many practical problems, one of which comes down to token liquidity and crypto swapping between blockchains. Bridges are vulnerable Moving tokens from one blockchain to another has become a crucial part of the DeFi sector. It allows users to use these tokens on different chains than their native ecosystem. However, most blockchains are closed systems and thus aren’t directly compatible with each other. The problem can be compared to using a European power plug in the United States — it’s just not going to fit. At least, not without an adapter. Within DeFi, these adapters — better known as bridges — can be found everywhere. With bridges, users lock tokens on one blockchain to unlock wrapped versions of them on another chain. Thes...