This Cryptocurrency Gains 20% as Coinbase Prepares to List

[BitTorrent]

This Cryptocurrency Gains 20% as Coinbase Prepares to List


TL;DR

• The valuation of a particular cryptocurrency has suddenly risen after Coinbase added it to its “roadmap,” signaling possible future listing.
• Such announcements from the company have historically led to price increases for affected digital assets, highlighting the impact on market accessibility and investor interest.

The price of Akash Network (AKT) rose nearly 20% following Coinbase’s announcement to add the token to its “roadmap” section.

Assets added to the roadmap today: Akash Network (AKT)

— Coinbase Assets

(@CoinbaseAssets) February 26, 2024

AKT’s valuation reached a 28-month high of $5 immediately after the exchange’s announcement, but later fell slightly to its current level of $4.60 (according to data from CoinGecko).

AKT Price, Source: CoinGecko

It is worth noting that the asset part of the “roadmap” is still in experimental territory and must meet certain criteria before being officially listed. Therefore, Coinbase warned users to avoid doing business with these individuals before an official announcement:

“Transfers and trades for these or other assets are not supported until the listing is officially announced. Depositing these assets into your Coinbase account before an official announcement may result in permanent loss of funds.”

This is not the first time that the price of a cryptocurrency has headed north following similar statements from the exchange. Processing (RNDR) rose There was a 10% increase at the end of January after the company placed it in the “roadmap section”.

Last week helium mobile (MOBILE) ascended About 20% hours after the company added support for the asset to the solana network.

Meanwhile, an official listing on a leading cryptocurrency exchange such as Coinbase could trigger an even more significant price increase by making the digital assets in question more accessible to a wide range of customers, increasing their legitimacy and potentially attracting more investors with new investment vehicles. capital city.

The exact same thing happened to bonk Inu (BONK) at the end of 2023. Solana-based memecoin took off after Coinbase put it on its “roadmap.” augmented much more when it is officially listed on the platform.



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