Sunday, December 4, 2022

Coinbase Exploration List Led To Over 100% Price Gains For Tokens

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A Coinbase exploration list led to over 100% price gains for some tokens like KROM, MTX, and BDP which all emerged as the big winners as of today so let’s read more today in our latest Coinbase news today.

The US-based crypto exchange Coinbase made waves across the crypto ecosystem when it released a list of 50 crypto assets that were under consideration for listing in the second quarter of the year in a bid to increase the transparency of the listing process. The responses from the release of the list were mixed and led to some allegations of insider trading with most of the traders taking a deeper dive and trying to discover more.

kromusd
KROMUSD 2-hour chart. Source CoinGecko

After a week’s worth of trading which saw most tokens on the list experience pump and dump activity, the dust is starting to settle revealing MITX, KROM, and BDP as the main gainers from the Coinbase announcement. The coinbase exploration list included Morpheus Labs which is a project that offers an extensive blockchain development toolbox and is designed to simplify the process of dapps development in a variety of networks and programming languages. The data from Tradingview shows that after coinbase’s announcement, the price of the token surged 185% from a low of $0.014 to a high of $0.04.

After the announcement, the protocol saw positive news flowing tied to the so-called NFT launcher and the Morpheus Labs launchpad. On the other hand, Kromatika Finance is a decentralzied crypto trading protocol that offers using a zero swap fee trading environment whcih eliminates front-running bots and prevents price slippage. The data shows that KROM was trading at a price of $0.0526 before rallying 145% and the token is now trading at $0.11. the developments that helped to boost the outlook for KROM including the launch of V2 Kromatika which is scheduled to happen soon and the possibility of being added to the Arbitrum Odyssey project.

mitxusd
MITXUSDT 4-hour chart. Source TradingView

At last, Big Data Protocol is a decentralized finance proejct that is focused on the creation of a liquid marketplace for the commercially valuable data which is sourced from the data providers. The data shows that the BDP catapulted 204% from the low of $0.058 to $0.177 after the coinbase announcement and has since retraced to $0.128 with a net gain of 121%. The bullish move higher for BDP was sustained because of several notable developments for the protocol and included an integration with the MetaGameHUB DAO. The overall crypto marekt cap stands at $1.875 trillion with the BTC dominance rate being 40.9%.

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