Thursday, December 2

Five cryptocurrencies are listed on Coinbase and Gala sets record

Broker Coinbase Pro announced the listing of five cryptocurrencies on its platform, making Gala set a price record.

In the market for a few years, Coinbase is a reference as a broker in the United States, even listed on the stock exchange. To operate in other countries, the Coinbase Pro division is responsible for serving customers.

Even so, listings on these exchanges often stir traders up and drive up currency prices, at least at the initial moment the market receives the news. The effect of Coinbase on listings is old and refers to an idea that the token or currency listed are of good fundamentals, since the broker is demanding with new projects.

With Gala setting a record, what other cryptocurrencies has Coinbase Pro listed?

Last Monday (15th), a public holiday in Brazil, Coinbase Pro announced the listing of five cryptocurrencies, in a publication in its blog.

One of them was Gala (GALA), which is part of the blockchain gaming industry via the Ethereum network. One of its founders is Eric Schiermeyer, also co-founder of Zynga, a company from San Francisco (USA) listed on Nasdaq and already operating in the games sector.

This cryptocurrency was one of those listed on Coinbase Pro this Tuesday (16), a factor that raised its market price by 30% in just 24 hours. With the move, GALA achieved its market record at US$0.14. Before this listing, Gala’s main market was Binance, which now gains a competitor.

Another that appreciated after the listing was announced on Coinbase was Power Ledger (POWR), up 22% in the last 24 hours and costing US$ 0.64 each. This Ethereum token allows the purchase of renewable energy to its holders, with the company behind it being based in Australia and working with the renewable energy sector in several countries, including the United States.

Two cryptocurrencies have not appreciated and one is stablecoin

Paired with the Dollar, the only token that did not have its price shaken by Coinbase was the mStable USD (MUSD), which, as it is a stablecoin, ended up fluctuating around US$ 1.00 in the market.

However, the other two listed currencies did not perform well with the listing on Coinbase Pro, at least at the beginning. One of them is the Ethereum Name Service (ENS), an Ethereum token that attracted attention last week after performing a large airdrop for users and getting a quote of US$83.00 per unit.

However, even with Coinbase listing, each ENS continues to cost US$49.00, with a drop of 14% in 24 hours. The intention of this project is to create a DNS species for the Ethereum ecosystem, carrying metadata that facilitate interactions in the network.

Another listed that fell, but not so much when ENS was Alchemix (ALCX), another Ethereum token that costs US$ 431.00 per unit, with 8% devaluation in the last 24 hours. This token represents the governance of the DeFi Alchemix protocol, which interacts with the DAI currency to monetize users’ money at decentralized brokers, such as SushiSwap, for example.

It is worth noting that all are tokens, but they have been listed on USD, EUR and USDT trading pairs.

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