Two Decentralized Science (DeSci) Protocols Falter Following Live Listings on Coinbase

Two decentralized science altcoins are wavering after gaining support from Coinbase, the top US-based crypto exchange platform by volume.

In a new thread on the social media platform X, Coinbase announced the addition of two decentralized science (DeSci) protocols – Bio Protocol (BIO) and ResearchCoin (RSC) – to its suite of crypto products.

Following the announcements, the tokens both fell in price.

“ResearchCoin [and] Bio Protocol [are] now live on http://coinbase.com and in the Coinbase iOS and Android apps. Coinbase customers can log in to buy, sell, convert, send, receive or store these assets.”

BIO is trading for $0.0612 at time of writing, a 7.3% decrease on the day while RSC is valued at $0.493, a 34% dip in price during the last 24 hours.

Earlier this week, Coinbase also added support for RSC – a project backed by Coinbase CEO Brian Armstrong that aims to improve science communication and research – on Base, its proprietary blockchain, causing the asset to spike in price at the time.

According to its official website, Bio Protocol is a blockchain that allows users to help fund early-stage biotech, making developments faster and more accessible.

“Our mission is to reshape how biotech breakthroughs are born by enabling global communities of patients, researchers and crypto users to create user-owned research networks that fund and develop new and emerging biotechnologies from day one?.

At its core, Bio is designed to help scientists raise funds for their research, create value from that research, and capture and distribute that value via commercial successes. By breaking down traditional biotech barriers and introducing a permissionless framework, Bio can accelerate life-saving discoveries while making them more accessible to all.”

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Featured Image: Shutterstock/Salamahin/HUT Design