A little-known altcoin Circuits of Value (COVAL) rose by 1,288% this week after a seven-day low of $0.018 to a fresh all-time high of $0.25 on Dec 9, according to CoinMarketCap.
The low-cap Ethereum (CRYPTO: ETH) token was listed by the top U.S. crypto exchange Coinbase Global Inc (NASDAQ:COIN).
Coinbase Pro listed the COVAL on Monday and then added retail support for COVAL on Coinbase.com.
COVAL's market cap was about $42 million on Dec. 5 and then moved up past $414 million later in the week.
Launched in 2014, the Circuits of Value is blockchain's first composite token.
It allows the users to trade in multiple tokens from any blockchain on any Ethereum Virtual Machine.
Using the Emblem Vault, described by developers as an entire wallet inside a token, users can package multiple assets into single blockchain transactions.
COVAL token powers the Emblem DeFi platform. Emblem allows the users to create their own ETH, ERC-20, and NFT combinations, and to convert them into a single, tradable token called Vault.
At the time of publication, COVAL was trading at $0.15, down almost 30% in the past 24 hours, with a current market cap of $149 million.
Related Link: Ethereum Classic May Need To Cross Above A Key Level
Join ZINGERNATION and earn ZING, an ERC-20 smart contract token we launched aimed to reward members as we build a community to find and share great trading and investing opportunities. Download the mobile app now, available on iOS and Android.
Click here, or sign up for our newsletter to explore more of Benzinga’s Cryptocurrency market coverage, in-depth coin analysis, data, and reporting.
For the latest in financial news, exclusive stories, memes follow Benzinga on Twitter, Facebook & Instagram. For the best interviews, stock market talk & videos, subscribe to Benzinga Podcasts and our YouTube channel.
© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
$10 of crypto when you trade $100
*U.S. residents only*
eToro USA LLC; Investments are subject to market risk,
including the possible loss of principal.
$27 of crypto when you complete education
$25 in BTC when you deposit $100
2 free stocks when you make ANY deposit
© 2021 Benzinga | All Rights Reserved
Advertiser Disclosure: TD Ameritrade, Inc. and Accretive Capital LLC are separate, unaffiliated companies and are not responsible for each other’s services and products.
Editorial Disclosure: Reviews are as determined by Benzinga Money. Opinions expressed here are solely the author’s and have not been reviewed, approved or otherwise endorsed by reviewers.