Coinbase, the prominent United States-based cryptocurrency exchange, has recently made headlines by adding Akash Network (AKT) to its listing roadmap, fueling a price hike of about 10% for the AKT Coin, which now trades around the $4.3 mark. Historically, Coinbase’s listing roadmap announcements have sparked notable price surges for many digital currencies. This pattern reflects the influential power Coinbase holds in the market, as past inclusions have often resulted in doubled prices following official listing confirmations.
A Look at Coinbase’s Market Influence
The addition of a new altcoin to Coinbase’s roadmap does not guarantee its eventual trade on the exchange; however, a significant number of altcoins featured on the roadmap tend to be officially listed within one to two weeks. Despite this trend, some cryptocurrencies may not make the final cut and could be withdrawn from the roadmap.
Anticipating Market Movements
Investors and market analysts alike are keeping a close eye on the activities surrounding the Coinbase listing roadmap, as any official listing news might trigger further price surges. The impact of these announcements is particularly pronounced in bull markets, where they can lend additional support to already ascending altcoin valuations.
With Coinbase’s history of stirring the market and the potential for additional altcoins to join the trading platform, the cryptocurrency community is on alert for the next wave of price dynamics that could accompany future listings.