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Coinbase, one of the world’s largest cryptocurrency exchanges, saw significant price increases in the five altcoins it added to its listing roadmap last week. Coinbase first adds the cryptocurrencies it plans to list to its ‘Listing Roadmap.’ Once the necessary conditions are met, these coins are listed on the exchange.
Coinbase Added 5 Altcoins to Its Listing Roadmap
- AWE Network (AWE)
- Dolomite (DOLO)
- Flock (FLOCK)
- Solayer (LAYER)
- SPX6900 (SPX)
In addition to these 5 altcoins added to the Coinbase listing roadmap, the SPAIEN token has also begun listing. SPAIEN, which saw a significant increase in value after listing, demonstrated the potential for value appreciation of coins listed on the Coinbase exchange. Many newly listed cryptocurrencies on Coinbase can create a pump effect alongside the exchange’s buying power:
The Coinbase Effect Kicked In and Prices Skyrocketed!
Following Coinbase’s listing announcements on its official X (Twitter) account, the ‘Coinbase Effect’ created significant increases in the coins added to the listing roadmap. Double-digit price increases were seen in the five altcoins added to the listing roadmap.
- AWE: Experienced an approximate 14% price increase.
- FLOCK: Surged by approximately 36%, creating a pump effect on the coin.
- DOLO: Showed a 10% increase.
- LAYER and SPX: Exhibited lower increases compared to other altcoins on the listing roadmap.
Serious increases have begun to be seen in altcoins that have been listed on Coinbase or added to the listing roadmap in recent periods. However, another point that investors should pay attention to is that these altcoins on the ‘Listing Roadmap’ are becoming susceptible to speculation. We know that liquidity plays a significant role in sudden increases and decreases. We draw attention to the possibility of speculative movements in such situations. While serious increases may occur due to the pump effect, you should not forget that profit-taking may also occur. Especially during the listing of low-volume cryptocurrencies, high-volume entries and exits can lead to much larger pump and dump effects.
SAPIEN Listed Price Up 64%
Coinbase announced that it has listed the SAPIEN token in line with the altcoins specified in its ‘Listing Roadmap.’ SAPIEN has also begun trading on Binance Alpha and Binance Futures in addition to Coinbase. Driven by both Coinbase and Binance, SAPIEN experienced a surge of over 60% in a short period. According to CoinGecko data, the daily trading volume exceeded 73 million dollars, with approximately 24.74% of this volume occurring directly through Coinbase.
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