Being listed on Coinbase is a guarantee of a rise for a crypto

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Being listed on Coinbase is a guarantee of a rise for a crypto

XRP has seen a sharp rise in value over the past two weeks. According to Ripple’s CTO, one reason for this trend could be a rumor. Which ? An upcoming return of the token on Coinbase.

However, it is difficult to measure. What would be less so, however, is the effect on the value of a cryptocurrency after it is listed on Coinbase. We could even speak of a real “Coinbase effect”.

A Coinbase effect for ADA, CRV and FIL

Messari was able to measure this by comparing the effects on the price of a token during the 5 days following its listing on major exchanges, including Coinbase, Binance, FTX, OKEx, Kraken and Gemini. Conclusion: Coinbase stands out.

Crypto performance: Filecoin, Tron and Binance Coin exploded this week!
“Coinbase listings have the highest average return, 91%, but they also have the widest distribution, ranging from -32% to 645%,” observes analyst Roberto Talamas in the study “The Crypto Exchange Pump Phenomenon. “

Several tokens listed in recent months on the US exchange seem to benefit from the boost from Coinbase. Among these: cardano, ankr (ANKR), curve DAO (CRV) and storj (STORJ). Our colleagues from CoinDesk also point out that Filecoin (FIL) has seen its value increase sixfold since its appearance on Coinbase last December.

Higher returns with Coinbase

“Among these outliers, District0x and Civic saw their prices increase respectively by 645% and 493%”, for example Talamas quotes .

Investors therefore have every interest in paying attention to news from Coinbase and the addition of new cryptocurrencies. By buying before that listing starts (or even just after the announcement), they can hope to profit from a value boom.

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