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Coinbase announces listing of new tokens and prices may skyrocket

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Known in the market as the “Coinbase Effect”, the token listing announcement on the exchange has the potential to boost its price in the short term.

On Tuesday (4), the exchange announced the listing of Cartesi (CTSI), iExec (RLC), Mirror Protocol (MIR) and Tellor (TRB) tokens.

Based on a study by Messari on this “phenomenon”, the average gain of a crypto to be announced by Coinbase is 91% in 5 days.

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New cryptocurrencies

With an eye on this metric, traders are on the lookout when Coinbase announces new crypto.

Therefore, it is important to pay attention to the CTSI, RLC, MIR and TRB tokens. For now, the listing was made only on Coinbase Pro, the company’s platform for “qualified traders”.

CTSI is a utility token that powers the Cartesi network, whose goal is to resolve the scalability of the blockchain using a technology called Optimistic Rollups. As a result, transaction fees are cheaper.

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RLC is an ERC-20 token for the iExec cloud platform. Through it, users can monetize and rent computing power and data.

In other words, iExec allows developers to boost applications in what is described as “a decentralized market for cloud resources”.

Like RLC, MIR is another ERC-20 token. It is part of Mirror Porotocol, a platform whose purpose is to create fungible assets that follow real-world asset prices.

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In short, the project wants to enable a stock market that never stops, creating “synthetic” versions of real assets. MIR tokens can be used to propose and vote on important changes to the protocol.

Finally, TRB is part of Tellor, a decentralized oracle network. Tellor allows Ethereum smart contracts to connect to external data sources.

Thus, the TRB is an ERC-20 token that powers the network and encourages honest collection of external data.

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