Cryptocurrency exchange Coinbase has decided to list the Moonwell (WELL) altcoin, according to its official statement.

According to the official statement, trading for WELL will begin tomorrow, September 24, 2024, if liquidity conditions are met. However, the token will operate on Base, the layer 2 network supported by Coinbase, and tokens sent for deposit from other networks may likely result in losses.

WELL, which is among the small-cap altcoins with a market value of $86 million, experienced a sudden increase in its price after the listing.

On the other hand, it is also noteworthy that the altcoin in question is not listed on Binance. Coinbase is quicker to list altcoins on the Base network. WELL, a DeFi platform altcoin, powers the borrowing and lending platform of the same name.

*This is not investment advice.