Coinbase Opens NEAR, AERO, VET, VTHO, PYUSD Trading For NY Users

Coinbase cryptocurrency exchange platform has expanded its offerings for New York-based customers by adding five new digital assets to the list of available cryptocurrencies. This expansion enables New Yorkers to access and trade NEAR, AERO, VET, VTHO, and PYUSD (ERC-20) on the crypto exchange website and its mobile applications.

Coinbase Opens NEAR, AERO, VET, VTHO, PYUSD Trading

In a recent announcement by Coinbase, NEAR Protocol (NEAR), Aero (AERO), VeChain (VET), VeThor Token (VTHO), and PayPal USD (PYUSD) are now available for trading, buying, selling, converting, sending, receiving or storing by the users in New York.

This can be seen as a huge expansion to the list of digital assets that are available in the state, which is an indication of the crypto exchange’s efforts to increase its presence in one of the most regulated markets for cryptocurrencies in the US.

Five new assets are now available to New York users 🗽

NEAR, AERO, VET, VTHO, and PYUSD (ERC-20) are now available to NY residents on https://t.co/CD3RBjtMAO & in the Coinbase iOS & Android apps. pic.twitter.com/Z1DCwjuObW

— Coinbase Assets 🛡️ (@CoinbaseAssets) August 19, 2024

These assets can be accessed on the Coinbase website, as well as through their iOS and Android applications, allowing users to conveniently monitor and track their digital assets. This is a positive for crypto traders and investors in New York as they can now include these assets in their portfolios.

Previous Expansions and Market Reactions

The crypto exchange had also added five other digital assets to its list of offerings for New York residents in June. Some of the assets are Render Token (RNDR), Hedera (HBAR), Akash Network (AKT), Helium (HNT), and Aptos (APT). The decision to streamline trading offerings for these cryptocurrencies aimed to enhance liquidity and facilitate the inflow of capital into their respective ecosystems.

This further growth of assets for trading in New York is consistent with the overall strategy of the crypto exchange to bring more diversity to the trading market. Thus, by providing access to these assets in New York, Coinbase will inspire more engagement of retail and institutional investors.

In the past, the addition of new assets on the exchange has always boosted their market performance. Other listed tokens like XRP and the meme coin Bonk also witnessed significant increase in their prices after being made available for New York residents. However, as for the market’s response to the latest listings, it remains to be seen, however, these new assets are likely to attract a lot of attention.

NEAR Protocol, AERO, VET, VTHO Price Trend

Despite the Coinbase announcement, the digital currencies did not experience much price reaction. For instance, NEAR Protocol (NEAR) price dipped by 1.69% to $3.94, while Aerodrome Finance (AERO) followed suit with a 2.70% plunge to $0.639.

However, VeChain (VET) and VeThor Token (VTHO) experienced a minor recovery, with the price surging by 0.37% and 1.17%, respectively, to $0.02285 and $0.002023.  Concurrently, PayPal USD (PYUSD) was not left behind, with the price at $1.00, a 0.05% surge