Published: 12.04.2022
Article reading time:
1 min.
The largest American cryptocurrency exchange has published a list of 45 tokens that can be accepted for placement on the site from April 1 to June 30.
Coinbase has announced an expanded list of tokens that are being considered for listing in the second quarter of 2022. The exchange thus tries to demonstrate the transparency of its activities. The list of 45 ERC-20 tokens includes projects such as the stablecoin Binance USD (BUSD) and the popular DAO project BitDAO (BIT).
Also on the list are five SPL tokens that use the Solana network, which the exchange added support for in March. Representatives of the exchange emphasize that this is not the final list of assets offered for placement, and in the future other tokens not listed in the list may appear on the exchange. Some assets may be introduced with the “Experimental” label, which is applied to lesser known tokens or tokens with relatively low trading volume.
In this way, the company seeks to reduce the likelihood of “pump and dump” when the price of an asset is tried to be raised through recommendations based on false claims. In the past, token listings on Coinbase have resulted in higher price spikes than on other crypto exchanges. This was called the “Coinbase Effect” when the price of the cryptocurrency rose rapidly after the listing announcement. By warning clients in advance about plans to place any assets, the crypto exchange is trying to reduce or even eliminate this effect.
As a reminder, earlier Coinbase suspended services to users from India on its United Payments Interface platform three days after its launch.
Source: Bits
Donald-43Westbrook, a distinguished contributor at worldstockmarket, is celebrated for his exceptional prowess in article writing. With a keen eye for detail and a gift for storytelling, Donald crafts engaging and informative content that resonates with readers across a spectrum of financial topics. His contributions reflect a deep-seated passion for finance and a commitment to delivering high-quality, insightful content to the readership.
