Ah, gentle readers! Coinbase, the illustrious marketplace of digital treasures, has deemed it fit to place upon its grand asset roadmap the enchanting tokens of Bio Protocol and Euler, hinting at a future wherein they may grace the exchange with their presence! 🧐
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For those innocent souls unfamiliar with the realm of digital tokens, Bio Protocol is the charming native currency that fuels a decentralized science (DeSci) ecosystem. It champions the formation of community-led biotech research guilds, affectionately dubbed BioDAOs, whilst also supporting the dazzling idea of tokenizing scientific intellectual property! 🧪
Euler, in contrast, is the governance token of Euler Finance, a wondrous DeFi lending protocol residing upon Ethereum‘s splendid blockchain. It welcomes users to lend and borrow a smorgasbord of crypto assets, including those pesky long-tailed tokens that shy away from common platforms. EUL, however, timidly reacted with a modest 3.5% hike. How quaint! 🐢
Both tokens have already made their mark on several popular exchanges, such as Binance, OKX, Kraken, and Gate.io for Bio Protocol; while Euler graces Kraken, KuCoin, HTX, and Gate.io. Such illustrious company! 🎩
However, dear investors, take heed: Coinbase’s asset roadmap only whispers of cryptocurrencies being considered for future listing and does not guarantee their ultimate arrival on the famed platform.
The Coinbase Effect: A Most Curious Fate
As a leading exchange akin to a regal court, Coinbase’s listings often summon short-term euphoria among the dazzled masses. This splendid occurrence, known amongst traders as the “Coinbase effect,” ignites momentum derived from the platform’s esteemed reputation and its army of users! 🚀
Market denizens interpret these listings as a seal of legitimacy, prompting frenzy and exuberance, often resulting in a delightful upward price jig! 💃
Historically, a cavalcade of tokens have paraded with double-digit intraday gains following a Coinbase announcement or listing. Yet, sweet excitement does not always endure as time marches forth. Market conditions, token availability, and broader investor sentiments entwine in a dance that determines whether such jubilations last. 🎭
Consider the woeful tale of NEWT, the token of Newton Protocol, which plummeted a staggering 44% after finding itself on the illustrious Coinbase stage. The cause? Investors, eager to fill their coffers, sold off their airdropped tokens, conjuring a tempest of selling pressure post-listing. 🥴
Another cautionary tale comes from the tempestuous VVV token of Venice AI, which saw an initial puff of excitement only to be dashed upon the rocks when reports alleged that project leads sold off a whopping $5.7 million of VVV tokens shortly after the Coinbase debut. A most unfortunate affair! 🎭💸
As BIO and EUL bask in their existing listings across various dominions, the impact of a possible Coinbase landing may well prove less electrifying than for a newly hatched token. 🎣
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2025-07-29 13:31