Two decentralized science altcoins are experiencing fluctuations in value after receiving support from Coinbase, a leading US-based cryptocurrency exchange platform.
In a recent announcement on the social media platform X, Coinbase confirmed the addition of two decentralized science (DeSci) protocols – Bio Protocol (BIO) and ResearchCoin (RSC) – to its range of cryptocurrency offerings.
Following the announcement, both tokens saw a decline in their prices.
“ResearchCoin and Bio Protocol are now available on Coinbase’s website and mobile apps. Customers can engage in various transactions involving these assets such as buying, selling, converting, sending, receiving, or storing.”
At present, BIO is trading at $0.0612, marking a 7.3% decrease for the day, while RSC is priced at $0.493, reflecting a 34% drop in value over the past 24 hours.
Earlier this week, Coinbase also extended support for RSC – a project championed by Coinbase CEO Brian Armstrong, focused on enhancing science communication and research – on Base, its native blockchain, causing a surge in the asset’s price at that time.
As per its official website, Bio Protocol is a blockchain platform that enables users to contribute to early-stage biotech projects, thereby expediting developments and increasing accessibility.
“Our goal is to revolutionize the inception of biotech breakthroughs by empowering global communities of patients, researchers, and crypto enthusiasts to establish user-owned research networks that support the funding and advancement of new biotechnologies right from the start. Through Bio, scientists can secure funding for their research, generate value from their work, and distribute that value through commercial successes. By eliminating traditional barriers in biotech and introducing a permissionless framework, Bio can expedite life-saving discoveries and make them more inclusive for all.”
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