Coinbase, one of the world’s largest cryptocurrency exchanges, shared its listing strategy for the rest of the year. In the coming days, we can see that 2 popular altcoin projects are listed on the stock market.
2 new listing announcements from Coinbase
The exchange announced support plans for Aurora (AURORA) and MXC (MXC) in a new announcement today. The date for the listing is not yet clear. However, according to the following announcement, Coinbase has added these two altcoin projects to its listing roadmap.
Assets added to the roadmap today: Aurora (AURORA) and MXC (MXC) https://t.co/zu1IBdrD7X
— Coinbase Assets (@CoinbaseAssets) August 22, 2022
The effect of the announcement was effective despite the sales
Cryptocurrency market started the new week with new lows. Meanwhile, Bitcoin, Ethereum and BNB Chain have been losing over 10% since last week. Solana dropped more than 20% in the same period as it dropped to almost $30. The price movements of the last 24 hours are also in the red around 1%. However, the situation is not the same for AURORA. The altcoin, which is among the top 300 by market cap, has gained over 15% in the last 24 hours. The ensuing sell-off left a stretching red candlestick on the AURORA chart.
Trying to evaluate the Coinbase announcement at MXC. It gained over 5% at one point after the announcement. However, just like AURORA, it could not escape market-wide sales. The Coinbase announcement is of particular importance, as the MXC token is among the top 150 by market cap.
Coinbase expands altcoin list with AURORA and MXC
Aurora (AURORA)
Aurora is a NEAR-based bridge and an EVM. It provides a solution for developers to run their applications on an Ethereum compatible and scalable platform. The Aurora ecosystem provides 3 features that facilitate ETH and ERC20 transfer between Ethereum and Aurora.
- Aurora Engine is an Ethereum Virtual Machine (EVM)
- Aurora Bridge enables cross-network communication
- AuroraDAO – is the management system of the Aurora protocol
MXC (MXC)
Meta X Connect (MXC) is the first IoT and Blockchain industry firm to work with proof-of-participation consensus mechanisms. However, it aims to strengthen the largest Web3 infrastructure layer and bring real-world presence assurance to Web3 by enabling physical objects to be bridged with metaverse and DeFi protocols. MXC is an ERC-20 token used for device transactions via MXProtocol. The cross-chain of IoT tokens and data allows it to be published, sold, and traded in an NFT marketplace.
cryptocoin.com As you follow, Coinbase’s listing announcements can result in explosive price movements. Coinbase CEO Brian Armstrong said that he worked with the SEC in selecting projects over the past few weeks. Meanwhile, Coinbase was on the agenda with insider trading executives last month.
