The Coinbase effect

[ETheHedgehog 3104]

so last week, an altcoin by the name of district0x (DNT) just had an uplift in price with an astonishing 797% last Tuesday, and it's all because of a surprise listing on Coinbase.

the price of the coin went from $0.0088 into around $0.08 at the peak, prices did drop down after that though to around $0.06 which is still around a 600% increase.

but despite that increase it was still far from the ATH of this coin with $0.50 in january 2018.

this is known in crypto terms as the Coinbase effect, where some forgotten altcoin gets a huge pump when it's released on Coinbase, the same thing happened with 2 other coins, civic (CVC) which pumped from $0.025 to $0.173 and MANA which went from $0.06 to $0.113

does anyone hold dead altcoins waiting for some opportunity like this to gain big profits, or do you just try to sell anytime soon and don't think that these kind of things can happen to the coin you have?

 

source: https://decrypt.co/47852/coinbase-listing-pushes-ethereum-based-coin-up-800

Edited November 14, 2020 by ETheHedgehog

[1qDan 478]

20 minutes ago, ETheHedgehog said:

his is known in crypto terms as the Coinbase effect, where some forgotten altcoin gets a huge pump when it's released on Coinbase

This effect is basically repeated in any exchange that has a high volume and many potential investors, an example is Binance, when TWT was listed in its markets the price went from 0.005 to 8 cents, then fell to 3 cents and is currently trading at 0.10 $

[ramsar 195]

6 hours ago, ETheHedgehog said:

so last week, an altcoin by the name of district0x (DNT) just had an uplift in price with an astonishing 797% last Tuesday, and it's all because of a surprise listing on Coinbase.

the price of the coin went from $0.0088 into around $0.08 at the peak, prices did drop down after that though to around $0.06 which is still around a 600% increase.

but despite that increase it was still far from the ATH of this coin with $0.50 in january 2018.

this is known in crypto terms as the Coinbase effect, where some forgotten altcoin gets a huge pump when it's released on Coinbase, the same thing happened with 2 other coins, civic (CVC) which pumped from $0.025 to $0.173 and MANA which went from $0.06 to $0.113

does anyone hold dead altcoins waiting for some opportunity like this to gain big profits, or do you just try to sell anytime soon and don't think that these kind of things can happen to the coin you have?

 

source: https://decrypt.co/47852/coinbase-listing-pushes-ethereum-based-coin-up-800

The impact of large platforms and the influence of large wallets is always great in the world of electronic currencies and on currencies that are dormant, and this is why everyone is waiting for such rare opportunities that make every person who has owned these currencies earning money that he did not earn in his full life because the pumping on those currencies after they were struck To these sites will be great, as you explained in your topic, and this is why I see that there are those who wait for such news and are enthusiastic about it because he knows with certainty that it is always the biggest opportunity
Thank you for the valuable topic, and such good news is what should be spread and read

[Izeal 4404]

I think if the coin lists in coinbase and binance then the price will go more with the small news and we can see breakout when they list in the market and people can get many profit if they got the news of listing in coinbase or in binance.

I think people have believe in them and they would blindly trust them because they are very good platform to store and trade cryptocurrency.

[ETheHedgehog 3104]

22 hours ago, 1qDan said:

This effect is basically repeated in any exchange that has a high volume and many potential investors, an example is Binance, when TWT was listed in its markets the price went from 0.005 to 8 cents, then fell to 3 cents and is currently trading at 0.10 $

that is true as well, but generally speaking i think it's called the Coinbase effect because it's the largest exchange, but i do agree that even if it was to be listed on Binance, Bitfenix or other major exchange it would have a similar effect as well

[JesusFries 1958]

I believe that this development and increase in the value of the currency is because of the fact that it was listed in Coinbase. We all know that Coinbase is a huge exchange platform that has large number of users and the fact that it has huge number of users makes them as potential investor for the currency. All in all, these exchange platforms surely has a great impact in these cryptocurrencies. 

[Ridam 7455]

That's ususal,  we see if any coin is going to be listed on big exchange the price starts getting pumped up. FIL, suhsi had pumped huge because of listing in Binanace last time. And for listing in exchange like Coinbase the project needs to be very strong with great potential. Also DNT isn't listed on Coinbase, it's only available on Coinbase Pro so be sure about that too 

[mzk7736 1592]

The  altcoin with significantly smaller price can easily be altered even by small trade volume. Coinbase is a big exchange and when it lists on your coin then it's users try to purchase that coin in large number that's why it got such a huge pump.

[P A Ashif 2409]

Well I was unaware about this affect. Is we are talking about the same coinbase that is a popular exchange. I am amazed that a exchange has affects on a crypto trading value. I guess many traders after this may concentrating on coins which are released in coinbase and are expecting to make profit from coinbase effect.

[Cryppro 1008]

I you got any inside news of cryptocurrenies listing in binance and coinbase then the price of the coin will automatically increase because they are the popular exchange and wallet and they only list the cryptocurrenies which has great project and good future prospectus.

[pablomarwan 3082]

If you want to create a forgotten currency, you will have to lose a lot of what you have. This will increase your profit more and will make you lose more. These methods are used by the platforms to revive their currencies, I consider it the best thing to do and that is for the sake of stability of the currency and its return to work and become like dead currencies

[cryptovlek 2597]

The coinbase and binance effect are known as the new listed coins are offered to millions of investors and traders and usually they welcome the new listed crypto with large buy orders and high volatility. Although after a while they deflate again and prices move back to listing price or lower depeding on the market moves.

[bogdanoff 3173]

The coinbase effect goes both ways. XRP was announced to be stopped from trading in Coinbase and price dived. Any delisting from top exchanges have this effect too as the asset will suffer with very lower volumes and price will decline a lot. 

[Sykkuno 2887]

This is typical with coinbase, any new coin to be listed there it will have a big pump for some time, however what is most important is the leak of this information before the announcments made by Coinbase and how many inside informants profit from this, it is a big problem in the market and creates concerns.

[percare 3192]

After the delisting of Xrp from Coinbase price dropped significantly, so this means that Coinbase has a lot of power in the cryptocurrency space, power to change prices by listing or de listing coins. The sentiment changed rapidly for Xrp after that de listing, while it is very positive for anything that gets listed.

[godislovefll 1880]

Coinbase is like Binance, when listing a new cryptocurrency it pumps, but it is something incredible what 1 single wallet can do as a coinbase, it is a great platform and perhaps this is one of the main reasons why each project that they add to their page that project raises its value a lot, it is something great.

[annayks 2314]

The effect of Coinbase is humongous, it pumps coins before listing, on rumours they will be listed, on the news they will be listed and right when they get listed. After a while the interest fades but the demand may rise again later as Coinbase is the top exchange having huge volumes.

[yulitzacalvete 1366]

On 11/14/2020 at 4:44 PM, ETheHedgehog said:

so last week, an altcoin by the name of district0x (DNT) just had an uplift in price with an astonishing 797% last Tuesday, and it's all because of a surprise listing on Coinbase.

the price of the coin went from $0.0088 into around $0.08 at the peak, prices did drop down after that though to around $0.06 which is still around a 600% increase.

but despite that increase it was still far from the ATH of this coin with $0.50 in january 2018.

this is known in crypto terms as the Coinbase effect, where some forgotten altcoin gets a huge pump when it's released on Coinbase, the same thing happened with 2 other coins, civic (CVC) which pumped from $0.025 to $0.173 and MANA which went from $0.06 to $0.113

does anyone hold dead altcoins waiting for some opportunity like this to gain big profits, or do you just try to sell anytime soon and don't think that these kind of things can happen to the coin you have?

 

source: https://decrypt.co/47852/coinbase-listing-pushes-ethereum-based-coin-up-800

They are a great company, where there are many great investors who have their money there, so the project that they add to their wallet greatly increases its value because coinbase is a great boost where not just any project can enter.

[tienda 8776]

I think Coinbase website exchange is like a lot of website exchanges, their effect exist just in their platform, they are able to manage their volume and coin price with their pumping. However, nothing of effect on cryptocurrency market out of their platform.

[Syedbesharat 5423]

The coinbase and binance are two biggest platform if any coin listed their they habe to fill up certain criteria for that they have to comply with the platform conditions. The price will surely increase for any coin if it was announced to be listed at top exchange. I am also following some projects who's listing is still pending and hoping it will be listed at top exchanges where the trading become easy and have good volume. The prjce sudden increase of %200-700 is seen in altcoins where they goes  $0.0001 to 0.01 in a day. So always keep tabs on new project a when you join them. 

[Syriana 350]

There are a lot of people who are waiting for such strikes on the electronic currency to strengthen themselves and gain more profits, as large quantities are pumped after each blow and this is the good fortune of small investors as they take advantage of the price difference and produce a good profit

[lari0695 13]

This is something incredible, since Coinbase doesn't have many coins listed, so the possibility of some coin going up in value this way is very high, so I think we should also look at the project, if it's very good it's a very good reason why they listed it in Coinbase, I see that this also happens in Binance.

[Barbarellah 2225]

Coinbase today is a renowned site as a result of its trajectory in the world of cryptocurrencies, and when an asset is listed on this platform, it obtains a good reputation, which increases its credibility and therefore increases its market share.

[Choudhary umer 0]

Yes you said absolutely right I am agree with you the altcoin is base effect on the progress and the price of the Bitcoin in these days are good if you compare it with the other coins so you should to choose a Bitcoin so I want to suggest to you that you should to choose a Bitcoin

[jappy 1129]

Coinbase is a very good platform and cryptocurrency that they assume has a good value and this is always very positive, it is something that by joining it to their platforms, projects gain more credibility and are more promising, this makes the cryptocurrency rise in value.