Coinbase, one of the world’s largest crypto exchanges, announced that it has listed 5 new altcoins. Related coins, GNO, MTL, SWFTX, SYLO and ABT, rose by double digits after the announcement.
Coinbase lists 5 new altcoins
The announcement came from the Coinbase Assets Twitter account today. Here is the list of new altcoins to be traded from July 21:
- Gnosis (GNO)
- Metal (MTL)
- SwftCoin (SWFTC)
- Sylo (SYLO)
- Arcblock (ABT)
Coinbase will add support for Gnosis (GNO), Metal (MTL), SwftCoin (SWFTC), Sylo (SYLO), and Arcblock (ABT) on the Ethereum network (ERC-20 token). Do not send this asset over other networks or your funds may be lost. pic.twitter.com/f1c0UlkOIF
— Coinbase Assets (@CoinbaseAssets) July 20, 2022
Coinbase is a large company with over 98 million users and $256 billion in assets on the platform. As such, the cryptocurrencies it lists fluctuate in double digits most of the time. The continuation of the article includes the price movements of the above 5 altcoins after the announcement.
Token prices rise by double digits after listing news
Metal (MTL)
Metal (MTL) is an easy-to-use platform for cryptocurrency transfer. It aims to make cryptocurrency payments fast and easy. MTL is the 256th largest cryptocurrency by market cap. With a market cap of $102 million, MTL is trading at $1.54 per token. It reached this level by gaining 15% following the Coinbase announcement.
SwftCoin (SWFTC)
SwftCoin (SWFTC) is the native cryptocurrency of SWFT Blockchain, an all-in-one wallet, exchange and payment platform. SWFTC enables faster cross-chain transactions with low fees. SWFTC, the 700th largest cryptocurrency by market cap, is trading at $0.003438 with +15% at the time of writing. It gained over 20% at one point following the Coinbase news. It currently preserves most of this excavation.
Sylo (SYLO)
Sylo is a decentralized communication and data exchange network powered by a layer 2 micropayment infrastructure and SYLO token. It gained 13% in less than an hour after the announcement. SYLO token is the 715th largest cryptocurrency by market cap. With this acceleration, it reduced its difference to 65% with the ATH level of $ 0.01491.
Arcblock (ABT)
ArcBlock is a decentralized blockchain application building and distribution platform. It describes itself as a complete Blockchain 3.0 product platform for easily building, deploying and managing applications. ABT gained nearly 8% after the Coinbase news. However, after that, it retraced 16% from the daily high at $0.13. It is currently trading at $0.1169.
Gnosis (GNO)
Finally, GnosisDAO creates decentralized infrastructure for the Ethereum ecosystem. GNO, which is in the top 100 by market value, gained more than 5% after the news of the listing. However, GNO returned some of this profit. It fell to $153.36 after selling from the $195 region.
cryptocoin.comAs we reported, Coinbase has made a number of listing announcements since last week.
