Coinbase, the leading cryptocurrency exchange by trading volume in the United States, has recently expanded its offerings by including EIGEN in its listing roadmap. This strategic decision is aimed at attracting a broader user base, as the exchange anticipates further price surges in the cryptocurrency market.
What is Coinbase’s Approach to Altcoin Listings?
The exchange’s selection process for new altcoins revolves around its roadmap, acknowledging that announcements can significantly affect altcoin prices, particularly during bullish market phases. In instances where altcoins experience low trading volumes, even a single announcement can induce price spikes of up to 20%.
Which Cryptocurrencies Have Been Recently Added?
Despite Bitcoin‘s recent price drops, Coinbase has introduced two new cryptocurrencies on its listing roadmap. Although inclusion does not ensure actual listing, assets that appear on the roadmap are typically listed within a week, with rare exceptions resulting in their removal.
The newly added ioNet (IO) Token from the Solana network and Degen (DEGEN) are both notable inclusions. Investors should remain vigilant to avoid potential scams involving fake tokens as they navigate these new listings.
- Coinbase’s roadmap influences altcoin prices significantly.
- New listings can lead to immediate price increases, especially in favorable market conditions.
- Investors should be cautious of counterfeit tokens amidst new additions.
The recent steps taken by Coinbase highlight its commitment to maintaining a competitive edge in the ever-changing cryptocurrency ecosystem, ensuring that its users have access to a diverse and potentially lucrative range of altcoin options.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
Source: https://en.bitcoinhaber.net/coinbase-adds-new-altcoins-to-engage-users