The US-based exchange Coinbase expanded its crypto-backed loan offerings to include additional tokens, such as Ripple’s XRP and Cardano’s ADA.
For the moment, the new service is available across the USA, except for residents of New York State.
The company rolled out its lending product, called Coinbase Borrow, in 2021. Two years later, it discontinued the service, only to bring it back at the start of 2025.
Coinbase Borrow lets users take a loan using their cryptocurrency possessions as collateral instead of selling them. Until recently, clients were able to borrow up to $5 million in USDC against their Bitcoin (BTC) holdings and as much as $1 million in the stablecoin against Ethereum (ETH). The exchange, though, decided to expand the service by adding Ripple (XRP), Cardano (ADA), Dogecoin (DOGE), and Litecoin (LTC).
“Now you can unlock the value of your portfolio without giving up your position. Borrowing up to $100K in USDC against your tokens, instantly, without selling. Available now in the US (ex. NY),” the official announcement reads.
Backing from a major exchange like Coinbase can positively influence the prices of the involved cryptocurrencies by boosting their reputation and accessibility. In this case, however, XRP, ADA, DOGE, and LTC continued trading lower, reflecting the broader market’s bearish conditions.
It is important to note that the strongest price pumps typically occur right after Coinbase lists a token or reveals its intentions to do so. Last summer, for instance, the company added SPX6900 (SPX), AWE Network (AWE), Dolomite (DOLO), Flock (FLOCK), and Solayer (LAYER) to its roadmap. Some of the involved assets headed north by double digits following the disclosure.
It’s a completely different story when Coinbase terminates services with certain coins. Towards the end of last year, Muse Dao (MUSE), League of Kingdoms Arena (LOKA), and Wrapped Centrifuge (WCFG) tumbled substantially after they were removed from the trading venue.
The exchange has been quite active lately, enabling additional trading options for its clients. Earlier this month, it announced that users can buy, sell, convert, send, receive, or store RaveDAO (RAVE), Walrus (WAL), AZTEC (AZTEC), and Espresso (ESP). All assets are live on Coinbase’s official website and application.
WAL, AZTEC, and ESP experienced an initial price upswing after the news but then headed south. RAVE, on the other hand, has kept pumping and currently trades around $0.44 (per CoinGecko), representing a 25% weekly increase.
The post Important Coinbase Announcement Concerning XRP, ADA, and Other Altcoin Investors appeared first on CryptoPotato.
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