Cryptocurrency traders are seizing opportunities with less popular altcoins ahead of their listings on major exchanges.
Coinbase's New Announcement
Coinbase, one of the largest exchanges by volume and the leading platform in the U.S., significantly impacts altcoin prices with its listings. The platform announced the inclusion of AltLayer (ALT), Pendle (PENDLE), and Layer3 (L3) in its listing roadmap.
Impact of Listings on Prices
Listings on Coinbase provide liquidity and regulated access for U.S. traders, making their announcements particularly influential on altcoin prices. As a result of revealing the roadmap prior to official announcements, ALT's price increased by nearly 20%, PENDLE by 12%, and L3 Coin by 35%.
Market and Possible Scenarios
There are three possible scenarios regarding these listings: the exchange may announce listings within a few hours or days, delay the announcement for weeks, or remove the altcoins from the roadmap entirely, resulting in an unsuccessful listing journey. Recently, Coinbase has treated listing decisions as a formality.
Altcoins continue to be the focus of traders due to price changes from listings on major exchanges like Coinbase. Paying attention to these announcements can be key to market success.
