Coinbase has announced a change in its listing approach: now the platform will publish an open list of crypto-applicants in advance.
As part of an effort to increase transparency we want to communicate the assets under consideration for listing in Q2 2022 (April 1st, 2022 to June 30th, 2022). Changes to our roadmap will be updated on this blog post regularly https://t.co/zu1IBdrD7X pic.twitter.com/cBRYe47E2m
— Coinbase Assets (@CoinbaseAssets) April 11, 2022
The company explained that this step is needed to “increase information symmetry” and ensure more fair conditions in the cryptocurrency market.
A pattern known as the “Coinbase effect” has become widely known in the crypto community: the price of a crypto asset rises sharply after listing on the exchange. This may provide an added benefit to insiders aware of the upcoming procedure.
The “Coinbase effect” is the Holy Grail or a trap for cryptocurrency traders
The Coinbase administration has posted a list of 50 projects, the listing of which can take place until June 30th. It includes 45 ERC-20 tokens and 5 assets from the Solana ecosystem. Among them are Binance USD, the third largest stablecoin in terms of supply with a capitalization of more than $17.8 billion, as well as the token of the large BitDAO project.
The prices of some assets from the list have risen significantly since the publication of Coinbase. At the time of writing, the value of the DappRadar token has increased by more than 30% over the past 24 hours, according to CoinGecko.
Price chart Binance USD (BUSD). Data: Coingecko.
Apricot Finance on the Solana blockchain rose 21% to $0.029.
Apricot price chart Finance (APT). Data: Coin Market Cap.
In the summer of 2021, the head of the exchange, Brian Armstrong, said that the platform plans to eventually add support for all legally allowed cryptocurrencies.
Earlier today, Coinbase announced plans to release an NFT series from the Bored Ape Yacht Club collection.
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