Coinbase's New Altcoin Listing Move Created Mobility in the Markets
Coinbase created significant activity in the cryptocurrency market with the listing of five new altcoins.
On June 23, 2024, Coinbase announced that five new altcoins will be listed on its platform, namely Chrono.tech (TIME), DEXTools (DEXT), Drep [new] (DREP), Jupiter (JUP), and Muse (MUSE). This announcement created great interest and excitement in the cryptocurrency community. These altcoins, which Coinbase will list with the “experimental asset” label, are considered assets with lower transaction volume.
Listing News and Market Reaction
This listing news of Coinbase caused a huge price increase, especially in the TIME token. TIME token increased by approximately 75% after the news, reaching $34.89. This rise clearly demonstrated the interest of market participants and investors in these new listings. Other listed tokens have also gained significant value. For example, DEXT rose to $0.1314, DREP to $0.55, JUP to $0.0109, and MUSE to $6.95.
Experimental Asset Strategy
Coinbase's "experimental asset" strategy aims to provide a more transparent listing of certain assets that are new or have lower trading volume compared to the broader crypto market. This strategy aims to help users make informed investment decisions. The experimental asset label informs users that these assets carry certain restrictions and risks of high volatility.
