Little-known Altcoin erupts after sudden Crypto Giant Coinbase listing

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A little-known altcoin is in the midst of a meteoric price rally after gaining backing from crypto exchange leader Coinbase.

In a new blog post, the company announced that it will launch assembly protocol (ASM) support on Coinbase Pro.

The move skyrocketed the price of the small-cap coin by 217%, from $ 0.03 to $ 0.10 in a single day, according to CoinGecko.

ASM is an Ethereum token that powers the Assemble Protocol, a blockchain-based global reward point integration platform designed to match payment providers, consumers, and retail merchants.

The protocol was created to address several common issues associated with customer loyalty programs involving points.

“First of all, the points that are provided to customers are recorded as a liability on the point provider’s side. This is essentially why the points are provided with certain validity dates, which causes a conflict between companies and customers …

Secondly, customers have few options to redeem their points within the given validity period, which obviously causes dissatisfaction …

Finally, customer points… are dispersed in different loyalty programs, which complicates the point management process.

Assembly Protocol aims to address these issues by allowing participants to use their loyalty points the same way they would use cash, anywhere in the world, with no time restrictions.

ASM has since stabilized and is trading hands at $ 0.091 at the time of writing, according to CoinGecko.

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Featured Image: Shutterstock / GrandeDuc

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