This Cryptocurrency Approaches ATH After Official Listing on Coinbase: Details
TL;DR
- The cryptocurrency market is recovering, with various altcoins seeing minor gains while one particular digital asset surged over 20% after Coinbase announced its support.
- Similar listings such as Akash Network (AKT) and helium mobile (MOBILE) demonstrate the exchange’s impact in increasing crypto valuations and investor interest.
The cryptocurrency market continues to recover after the latest correction, with ripple (XRP), dogecoin (DOGE), Shiba Inu (SHIB) and many other altcoins witnessing minor gains on a daily scale. But other assets rose much more significantly; Ronin (RONIN) is a clear example of this.
The value of the gaming token increased by over 20% (according to CoinGecko data) reaching $4.34; It’s just a few cents away from its all-time high. Its market cap has surpassed $1.3 billion, making it the 88th largest cryptocurrency.
RONIN Price, Source: CoinGecko
RONIN’s recent rise was likely due to Coinbase’s decision. to allow trading services with it. The official announcement comes two days after the exchange said it would support presence on the Ronin network.
Backing a leading crypto platform like Coinbase can positively impact the valuation of the underlying asset as it can lead to increased legitimacy, increased liquidity, and subsequently a new wave of investors.
This is not the first time that the company’s actions have triggered a price increase for a particular digital currency. The same thing happened last month with Akash Network (AKT) rose It rose 20% after Coinbase added the token to its “roadmap” section.
Before now helium Mobile (MOBILE) price has reached It’s a two-month high following the company’s decision to bolster presence on the solana network.
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