Reaching a listing on the popular crypto exchange Coinbase is a major goal for many teams on the crypto market. Not only does this usually have a very positive effect on the price - the awareness and thus the financial resources of the project also increase significantly. As Coinbase had announced in a new blog post, 19 other cryptocurrencies are currently being examined, which may be eligible for a listing.
Coinbase examines 19 new cryptocurrencies: AMPL, FET, OCEAN ...
Coinbase is not known for listing new cryptocurrencies quickly and regularly. Competitors like Binance or Poloniex are significantly more open when it comes to listing new digital assets. But the market is currently growing significantly faster than in the past two years. The bull market seems to have reached us and Coinbase doesn't want to miss out on the business with the new projects either.
Because the crypto exchange also benefits from the listing of new tokens. The fees for buying and trading digital assets are not low and help the stock exchange to generate enormous sales.
In a blog post yesterday, Friday, July 31, Coinbase announced that it was investigating 19 new cryptocurrencies. In the future, these should be considered for listing on the stock exchange. However, this is not a guarantee, only very few will actually be listed. These are the following cryptocurrencies:
Ampleforth, Band Protocol, Balancer, Blockstack, Curve, Fetch.ai, Flexacoin, Helium, Hedera Hashgraph, Kava, Melon, Ocean Protocol, Paxos Gold, Reserve Rights, tBTC, The Graph, THETA, UMA, and WBTC.
As a long-term goal, Coinbase wants to provide cryptocurrencies that make up 90% of the global market cap. In the course of this, the digital assets listed above will be examined in the near future and should lead to listing by one or the other.
Just a few weeks ago, the crypto exchange presented 18 other cryptocurrencies, too examined .
The coinbase effect
In late 2017 and early 2018, during the heyday of the crypto bull market and the wedding of the ICOs, there was talk of the so-called coinbase effect. Listing on one of the largest stock exchanges in the world was quite likely to result in an enormous price increase.
Some of the above-mentioned cryptocurrencies, which could be listed on Coinbase in the future, posted price gains solely through the blog post. Ocean Protocol (OCEAN) has grown almost 24%, Fetch.AI (FET) 20%, Flexacoin (FLEX) 4.5% over the past 8 hours. The Reserve Rights Token (RSR) cryptocurrency rose 19,6%.
This effect was most recently observed with the cryptocurrency Algorand (ALGO). The ALGO course rose significantly as a result of the listing. Of the Coinbase effect doesn't stop at Algorand either. The price rose by more than 30%. If an ALGO token was quoted at $ 0,25 USD before listing, the price rose to $ 0,36 USD. An increase of almost 50% within a few days. The cryptocurrency maker (MKR) also rose 40% through the listing.
Markus from Kryptokumpel.de
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