The latest digital currency news are mostly made up from the recent stability of the market – as well as the new listings of many tokens on exchanges. One of them is the recent addition of the altcoins Civic (CVC), district0x (DNT), Loom Network (LOOM) and Decentraland (MANA) on Coinbase Pro.
All of the ERC-20 tokens went live on the platform and received a bump from their listing on the crypto exchange in a very short period of time. In fact, as soon as Coinbase reached out to traders and announced that it had started accepting inbound transfers of the newly listed crypto assets, the ‘Coinbase Effect’ occurred and three of the four tokens surged against the price of Bitcoin.
As Coinbase announced prior to the surge:
“Trading on the CVC, DNT, LOOM, and MANA order books is about to begin. These order books will now enter post-only mode. Customers can post limit orders, but there will be no matches. Order books will be in a post-only mode for a minimum of 1 minute.”
The tokens which surged against both BTC and Ethereum include DNT, which is up by around 4% over the past 24-hours, MANA which is up by more than 11% and LOOM which is 1.5% up against BTC.
However, let’s not forget that Ripple (XRP), which has a long history of surging on mere rumours that it will be listed on Coinbase, has not seen a bounce now that Coinbase said that it is “exploring ways for support” of the cryptocurrency.
DC Forecasts is a leader in many crypto news categories, striving for the highest journalistic standards and abiding by a strict set of editorial policies. If you are interested to offer your expertise or contribute to our news website, feel free to contact us at editor@dcforecasts.com
Discussion about this post