The Coinbase effect

[Samotokika 1780]

On 11/15/2020 at 1:44 AM, 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

Yes dude this effect is very much enhanced and important in large exchanges and obviously it has some higher popularity among all coins if it is listed here so it's a good way but it will not remain there for a longer period of time and price fall

[Bruno52 1141]

I think that the coin base effect is something that happens rarely so I cannot hold dead altcoins in the hope of coin base making this coin appear on their website so I rather sell it before the price reduces too much.

[Roan 2166]

Frankly, my friend, keep a large chunk of a dead currency and put it in the investment waiting for it to move or its price a little higher

I bought it at a price that suddenly decreased and I became desperate, and I still keep it until it rises again and I hope that happens.

[Michar1 1693]

If it happens in some exchanges, before being listed the currencies have a low price, but as soon as they are listed in an exchange that maintains a good reputation or range, those currencies tend to rise, it is something that I still do not understand why is that it happens, but it is what I have also noticed, in these cases where it happens is the exchange of binance, I have noticed that on some occasions they tend to rise in price what is listed there in that exchange, but I suppose it is because the range it maintains, in this case it was with coinbase, but I don't know why that price increase detail is due, it is something that should be considered since it is only to keep attention to the next listings in those exchanges, who knows It may be that you run with the same luck and you can get some good benefit, with some other coin that is listed, a cordial greeting and see you soon.

[Nayeem1312 743]

Coinbase is a great wallet for crypto currency. We can easily store our crypto currency and we can any time make transaction from there. So it is very helpful and secure wallet. That's why it's very effective to crypto user.

[BhenGhix 804]

Coinbase is absolutely and frankly a renowned and famous coin site that simply takes all the necessary steps in outshowing and displaying the best of various coins.

It effects may not be as costly as we may think but thanks to you dude as you brakes the explanation step by step.

[abohasnn9 2401]

My friend, the Coinbase platform is a distinct platform in the cryptocurrency markets, and it specializes in controlling some good currencies, as it is a distinct currency base similar to the famous blockchain platform, and the most important thing is that it is a controlling and supportive platform for distinct currencies in the future Thank you very much

[Quickbee 26]

That's interesting. It only means Coinbase and even Binance is a huge exchange platform like Yobit which has many users. When the trading volume increases, it results in popularity and rise in the price.

[Jack764 1841]

There are many things that happen to currencies and that news is the main factor in price change, so there are currencies that take the place of other currencies

[Ameralsamt 2558]

I think there is a big impact for Coin Pass on cryptocurrencies, they are the ones that, if they enter into any currency, raise or depreciate, and here are some of the most valuable currencies. 

[yonkii 3205]

I've seen altcoins rising and then dropping too fast lately. I don't consider this to be healthy in a market and the results are mistakes from traders and money lost. Some of the altcoins today are valued too high in what is not just my opinion but common logic. Is Doge worth to have 10 billion marketcap? Ethereum is also too high priced, and it is 100% certain that ETH will see very lower prices again. I don't understand the altcoin market so I'm not paying a lot of attention. It is all a huge casino with altcoins. With Bitcoin it is a little different and we can make plans and analysis.

[Abrar1122 10]

Mustafa times will use all this kind of opportunity is because we don't know about the upcoming events I think there should be some kind of people telling us that we should buy some certain coins now

[Dorjoy12 8962]

On 11/15/2020 at 2:44 AM, ETheHedgehog said:

do you just try to sell anytime soon and don't think that these kind of things can happen to the coin you have?

Firstly coinbase is a well reputed  USA based exchange  site and it will never list any coin which project team is not active  as well the project  white paper Isn't  legit..  I have seen the destrict coin price movement.. Don't  you notice that binance  list any coin and it get pumped like myth so the effect same on coinbase..

[RoyalHouse01 9]

Thanks for the information I think it is not difficult to make the money in the trading if we work with the sincere mindset and also if we give our full might in the learning.

[Whited35 15285]

On 11/15/2020 at 2:29 AM, ETheHedgehog said:

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?

 

I have bunch of coins bin wallet which are almost dead. Fortunately, I have earned them from the bounty programs of different projects so I have no worry of being a holder of such coins. Coinbase is already the reputed platform and listing of any coin on the platform inspires investors to pour up their money and we can see the unbelievable raise in price of such coins. 

[maarcoferrer 1096]

Wooow what an interesting post, the truth is that being a novice I would not have understood anything, thanks to Cryptotalk that we can have people who give us this information and we realize how we are advancing and that thanks to the study we are informed of all the platforms that are now to take advantage. Thanks to Cryptotalk and Yobit.

[koynayak 1923]

Listing on coinbase is very hard and that's why those altcoins gain too much value after listing news. It's not speciall for coinbase, if that altcoin listed on binance or huobi, it also affect the price positively, but coinbase effect is more stronger than the other exchange. We need to be able to find those coins before listing so we can make nice profit.

[Rozy 1918]

Exchanges and platform play a role in deciding the price of coins, and the cryptocurrency is a market that is highly influenced by the roemers and any news can make a price fluctuation. There are some difference in price from one exchange to another sometimes reaches to thirty percent, so it is not weird or coinbase to affect the price of a crypto coin. 

[Obliv0n 333]

It is exactly the same effect that is presented in basically all exchanges when they announce that a currency will be listed despite being unknown, we saw it with TWT, with bananas, with SFP and many others that were integrated to coinbase, binance or another large exchange . I am waiting for the spark token to be integrated

[Guru2050 8284]

Popularity of exchange tends to affect newly invented crypto coins project positively. True investors and several categories of Crypto users needs to see the coin listed in  famous, prominent, reliable sites before to venture in to dealing with the new coin which in turns raise the initial value

[kryptonick 2659]

The Coinbase effect is very strong. It happens that during the times of a bull run, any listing on Coinbase gives a reaction of this kind. Assets that get listed there, they pump on announcement and 700% may look too much but this is how it goes.

[Dissy sb 945]

The coinbase effect is means that the coin that have the more impact on the market you can see that in the market the Bitcoin have more impact on the other currencies of the cryptocurrency because Bitcoin has more Fame and price then the other coins