These Altcoins Surge Over 100per After Coinbase Exchange Revealed List of 50 Cryptocurrencies
Categories: Crypto News UK
The world’s seventh-largest cryptocurrency exchange Coinbase will be listing 50 altcoins in Q2 2022, some of the named tokens recorded massive growth hours after the announcement was made.
Over 100% Gains
Cryptocurrencies like Morpheus Labs, (MITX), Kromatika (KROM), and Big Data Protocol (BDP) have surged more than 100% since Coinbase made the announcement. According to Coin Market Cap data, MITX was trading around $0.014 on April 11, 2022, before the Coinbase announcement, but its value surged to a high of $0.038 yesterday, while KROM, which traded around $0.064 before the news, soared to a high of $0.13 the following day.
Coinbase Upcoming Altcoins Listing
Earlier this week, Coinbase noted that it will be adding 50 altcoins, comprising 45 Ethereum-based tokens (ERC-20 tokens) and five Solana-based coins, for trading throughout Q2 2022. The San Francisco-based exchange, which went public last year, noted that the reason for providing the information in advance is part of efforts to increase transparency on new crypto asset listings.
Coinbase Accused of Insider Trading
Meanwhile, the cryptocurrency exchange has once again received public backlash for engaging in insider trading after the announcement was made. A popular cryptocurrency influencer named Cobie noted that he discovered an Ethereum wallet that bought hundreds of thousands of dollars of the tokens featured in the Coinbase list. According to Cobie, the user bought the assets at least 24 hours before the announcement was made.