Coinbase Triggers Massive Price Rallies for Seven Altcoins After Launching Sudden Crypto Listing Spree – The Daily Hodl

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Seven altcoins are surging after a surprise listing by top US crypto exchange Coinbase.

In a new blog post, Coinbase says that 5 Ethereum tokens and 2 other altcoins will start trading on Coinbase Pro once appropriate liquidity conditions are met.

Circuits of Value (COVAL) skyrocketed from $0.02 to $0.06 almost instantly and peaked at a fraction below $0.09 for a nearly 350% gain. COVAL has settled back in the $0.06 range at time of writing.

COVAL is the Ethereum token behind the Emblem platform which enables users to combine Ethereum (ETH), ERC-20 and NFT tokens to create a transfer token known as a Vault.

Fellow Ethereum token IDEX leaped 84% as news of the listing spread. Its native token IDEX powers the IDEX decentralized exchange which features an order book, automated market maker (AMM) and staking for holders.

IDEX rose from $0.25 to as high as $0.46 and is trading for $0.42 at time of writing.

Also on the rise is the fundraising project Polkastarter (POLS), which is built on the Polkadot blockchain. POLS quickly rallied from a weekly low of $2.94 to $3.79, then blasted off again to $4.94 for a total leap of 68%. The token is cuurrently trading at $4.45.

Environmentally conscious Moss Carbon Credit (MCO2) also saw an impressive rise after the Coinbase listing, vaulting from $9.24 to $16.71, and peaking at $20.77 – a nearly 125% rise.

Moss Carbon Credit seeks to fight climate change by offering carbon credits. Coinbase says,

“Burning one MCO2 token on the Moss Carbon Credit platform is equivalent to offsetting one ton of CO2 footprint, which is made possible by purchasing and protecting land in the Amazon rainforest.”

The altcoin is currently priced at $19.95.

SuperFarm (SUPER) is another Ethereum token getting the green light from Coinbase. It powers the non-fungible token (NFT) marketplace SuperFarm, where users can stake their SUPER holdings to earn NFT-redeemable points.

SUPER saw a near-instantaneous rise from $1.06 to $1.58, working up to a 66% gain and a high of $1.77. It’s currently holding strong at $1.74.

Spell Token (SPELL) governs the Abracadabra.money platform, where users deposit interest-bearing cryptos to mint the stablecoin MIM.

The coin spiked nearly 50%, moving from $0.009 to $0.013, then topping off at $0.017. It sits $0.016 at time of writing.

Lastly, ShapeShift FOX Token (FOX) is the native token of decentralized exchange (DEX) ShapeShift. The Coinbase listing announcement led to an immediate jump from $0.77 to $0.87. FOX worked its way up for a 35% rise to a weekly high of $1.04 before dipping slightly to its current price of $0.97.

Coinbase says that each token will be available to trade paired with USD and USDT.

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/Apex Infinity Games/Sensvector



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