Coinbase to List TOSHI Token, Sparks 70% Price Surge
Coinbase, the largest cryptocurrency exchange in the United States, said it will add Toshi (TOSHI) to its listing roadmap.
TOSHI runs on the Base network and joins Ethereum’s QCAD (QCAD) and Solana’s Peanut the Squirrel (PNUT) on the list.
TOSHI surges on Coinbase listing plan
Coinbase shared the update in a post on X (Twitter), indicating that TOSHI is a new addition to its listing roadmap. The U.S.-based exchange also shared The contract address of the Base-based token.
“Asset added to roadmap today: Toshi (TOSHI),” Coinbase explain.
After the Coinbase listing announcement, TOSHI’s stock price soared nearly 70%, and then profit-taking began.
This surge is a typical reaction following the announcement of a coin’s listing on a popular cryptocurrency exchange. For example, Virtuals’ aixbt (AIXBT), ChainGPT (CGPT) and Cookies DAO (COOKIE) has surged recently Binance announces listing out of three I have an agent Tokens.
In addition to a “buy the rumor, sell the event” scenario, these spikes stem from expectations of increased liquidity. Communicate like Binance Coinbase has high trading volume and liquidity, which makes it easier for traders to buy and sell tokens.
Higher liquidity usually leads to price appreciation as it lowers the price volatility and makes it easier for traders to enter and exit positions. Other factors at play include increased accessibility, which in turn increases demand, credibility and trust.
In addition to the listing announcement, Coinbase also highlighted an outlook experiment label i.e. Typically applies to newly listed assets. After TOSHI is listed on Coinbase, the label will help distinguish new tokens and effectively protect them from attacks. volatility Given its relative newness.
Coinbase’s decision to include TOSHI on its future listing roadmap follows what the exchange describes as a “comprehensive process and standards evaluation of legal, compliance and technology.” Safety“.
“These criteria do not take into account a project’s market capitalization or popularity,” Coinbase additional.
It’s worth noting that Coinbase only supports two types of assets: native assets on its own network, such as ETH, and tokens that adhere to supported token standards, such as Ethereum ERC20, Solana sound pressure level and avalanche ARC20.
“TOSHI ranks higher than SKI and BRETT because they make stuff. Coinbase has made clear the roadmap needed for the base token and TOSHI has executed it,” one user on X joke.
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