Close Menu
Cryprovideos
    What's Hot

    BlackRock Eyes Main Stake in Circle's IPO Amid Surging Demand

    June 1, 2025

    High Meme Cash to Purchase and Maintain This June 2025

    June 1, 2025

    Finest Altcoins to Purchase Earlier than Bitcoin Turns into 'Exponentially Tougher to Purchase'

    June 1, 2025
    Facebook X (Twitter) Instagram
    Cryprovideos
    • Home
    • Crypto News
    • Bitcoin
    • Altcoins
    • Markets
    Cryprovideos
    Home»Crypto News»Celo's token drops as Coinbase skips Layer-2 migration help
    Celo's token drops as Coinbase skips Layer-2 migration help
    Crypto News

    Celo's token drops as Coinbase skips Layer-2 migration help

    By Crypto EditorNovember 28, 2024No Comments2 Mins Read
    Share
    Facebook Twitter LinkedIn Pinterest Email



    Celo's token drops as Coinbase skips Layer-2 migration help

    Celo, a outstanding Layer-1 blockchain, has seen its native token dump 5% after its upcoming transition to an Ethereum Layer-2 community inside Optimism’s Superchain ecosystem turned “contentious.”

    On Nov. 27, Coinbase, the biggest US-based crypto trade, introduced that it will not help Celo’s migration right into a Layer 2 community. In distinction, Tether’s CEO Paolo Ardoino confirmed the stablecoin issuer’s continued help for the community post-transition into the Ethereum ecosystem.

    Information from CryptoSlate confirmed that this uncertainty negatively impacted the community’s CELO token, which fell 5% to $0.81039 at press time.

    Neighborhood response

    These diverging views sparked combined reactions inside the neighborhood, with many criticizing Coinbase’s choice.

    Marek Olszewski, CEO of Celo’s developer cLabs, expressed disappointment with Coinbase’s stance. He questioned whether or not this choice may deter different Ethereum Digital Machine (EVM)-compatible Layer-1 chains from embracing Ethereum’s Layer-2 scaling options.

    In the meantime, the founding father of Kraken’s Inkchain, Andrew Koller, assured that his trade would help the migration into an L2. He said:

    “Kraken and Ink [loves] the superchain and are absolutely dedicated to Ethereum scaling and making Kraken work for Celo customers. we’ve requested the related groups to discover this to see if we are able to hit every thing in time for Jan. sixteenth.”

    Regardless of the setback, Olszewski instructed the Celo neighborhood might contemplate renaming its present Layer-1 chain to “Celo Gold (CGLD)” to accommodate Coinbase’s present help framework. He hinted that this may simplify future adoption if Coinbase helps the Layer-2 improve.

    Neighborhood urges Coinbase to rethink

    EigenLayer founder Sreeram Kannan speculated that Coinbase’s choice might stem from “an oversight” reasonably than outright opposition. He inspired the trade to revisit its stance, emphasizing the potential advantages of supporting Celo’s integration into the OP Stack.

    Kannan said:

    “I feel that is probably an oversight internally in Coinbase. There is no such thing as a probability the corporate constructing the main Ethereum L2 in customers and a core contributor to OP public items will select to discontinue supporting Celo after it turns into an OP stack based mostly L2.”

    Alternatively, Nass Eddequiouaq, the CEO of a16z-funded crypto startup Bastion, highlighted the operational and regulatory complexities exchanges face when including help for brand new chains, significantly within the US. He added:

    “Exchanges and custodian have often been ready to see which department of the fork picks up the exercise earlier than including help for it and deprecating the opposite one.”

    Talked about on this article



    Supply hyperlink

    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

    Related Posts

    NFT Gross sales Plunge +20% To $102M This Final Week Of Could 2025

    June 1, 2025

    Bitcoin Maxi Max Keiser Isn’t Shopping for The Hype Round New Crypto Holding Corporations

    June 1, 2025

    OpenSea Tops The NFT Market Chart In Might 2025 – InsideBitcoins

    June 1, 2025

    Solaxy Presale Enters Remaining Two Weeks with Almost $43M Raised – Finest Crypto to Purchase Now?

    June 1, 2025
    Latest Posts

    Finest Altcoins to Purchase Earlier than Bitcoin Turns into 'Exponentially Tougher to Purchase'

    June 1, 2025

    Is Saylor About to Announce One other Huge Bitcoin Buy?

    June 1, 2025

    Bitcoin Will Explode to New All-Time Excessive Simply As Merchants Flip Tremendous Bearish on BTC, In accordance with Analyst – The Day by day Hodl

    June 1, 2025

    Bitcoin Set to Hit $120,000? Analyst Predicts New ATH in Mid-June

    June 1, 2025

    Technique's Michael Saylor indicators impending Bitcoin buy

    June 1, 2025

    10 Bullish Takeaways from the Bitcoin 2025 Convention

    June 1, 2025

    Michael Saylor Requires Bitcoin Speak on Rogan Podcast – Bitbo

    June 1, 2025

    Bitcoin Maxi Max Keiser Isn’t Shopping for The Hype Round New Crypto Holding Corporations

    June 1, 2025

    CryptoVideos.net is your premier destination for all things cryptocurrency. Our platform provides the latest updates in crypto news, expert price analysis, and valuable insights from top crypto influencers to keep you informed and ahead in the fast-paced world of digital assets. Whether you’re an experienced trader, investor, or just starting in the crypto space, our comprehensive collection of videos and articles covers trending topics, market forecasts, blockchain technology, and more. We aim to simplify complex market movements and provide a trustworthy, user-friendly resource for anyone looking to deepen their understanding of the crypto industry. Stay tuned to CryptoVideos.net to make informed decisions and keep up with emerging trends in the world of cryptocurrency.

    Top Insights

    New Crypto On line casino Platform Winna.com Secures $15 Million in Seed Funding

    December 23, 2024

    Lawmakers Pushing Forward on Stablecoin, Crypto Market Construction Payments – Decrypt

    March 26, 2025

    Optimism airdrop: the way to place your self for the sixth spherical of crypto rewards

    December 22, 2024

    Subscribe to Updates

    Get the latest creative news from FooBar about art, design and business.

    • Home
    • Privacy Policy
    • Contact us
    © 2025 CryptoVideos. Designed by MAXBIT.

    Type above and press Enter to search. Press Esc to cancel.