Sunday, October 1

Cryptocurrency Soars 14% After Coinbase Listing Announcement

A cryptocurrency that cost just $1.99 each saw its price soar with Coinbase’s announcement of its listing. Considered the largest cryptocurrency exchange in the United States and one of the oldest, Coinbase has a rigorous process for listing new coins.

In this way, the market closely monitors new listings on this brokerage, which can mean a surge in projects. In recent years, this platform has sought to list more coins to attract new investors.

In the US, Coinbase was the first cryptocurrency exchange to be listed on a stock exchange. In its global expansion process, it should also operate in Brazil, as several job openings have already been opened in the country.

Cryptocurrency Costs $1.99 When Coinbase Ad Makes It Shoot

Priced at “only $1.99”, cryptocurrency Stacks (STX) skyrocketed last Tuesday (18), after being listed on Coinbase.

Stacks was $1.99 when listing on Coinbase made it soar in the market /Coingecko

The coin soared when Coinbase announced that would list the asset on your platform. As a result, Stacks rose to $2.53 at the highest of the day, and is still up 11.4% this Wednesday (19), even with Bitcoin operating down 1.6% in the last 24 months. hours.

Stacks listing on Coinbase will take place in three trading pairs, which are Euro, Dollar and USDT. Currency trading at the broker will begin at 2 pm this Wednesday.

This listing will not take place on the exchange, but on Coinbase Exchange and Coinbase PRO, two other platforms in the group. Anyway, the broker made it clear that when the listing is complete, including for consumption with Stacks, another announcement will be made.

Stacks network drawing attention

The Stacks network is one of the most promising to seek to create smart contracts for the Bitcoin community. Linked to Bitcoin, this network caught the attention of city mayors around the world, who created their City Coins.

One of the cities to do this was Miami, which created MiamiCoin and inspired other cities in the country to do the same, which were New York with NYCCoin and Austin with AustinCoin. Last week, the mayor of Rio de Janeiro, Eduardo Paes, confirmed that he will create Rio Crypto, although it is not yet clear if it will be on Stacks as well.

In any case, this network draws attention by allowing the creation of NFTs, City Coins and DeFi in the Bitcoin ecosystem, something sought after by many in the community.