Coinbase, a leading Bitcoin and altcoin exchange, has often shown that their listings have had a significant impact on the market. For this reason, investors are curiously following the altcoins to be listed on the platform. But recently, an attempt to improve the transparency of the asset listing process at Coinbase has raised more questions about insider trading.
Insider trading claim for Coinbase: Here’s what happens
Coinbase has announced a list of 50 different tokens it plans to list in 2022. The company said the goal with this is to maintain transparency with users and prevent pump and dump schemes. While many of these coins are unpopular, with a market cap of less than a billion dollars, it surprises people; Investors were confused by the fact that large purchases of most of the tokens were made prior to this announcement.
Twitter users started to find ten chain data about the tokens in the list and not much. It turns out that something very suspicious has happened. In particular, the fact that an Ethereum wallet bought almost half a million dollars from the coins on the list raised a question mark as to whether there was “insider trading” on Coinbase. However, of course, it cannot be known with certainty whether this wallet belongs to someone who works at Coinbase, and “insider trading” is just a claim.
Which altcoin projects were on the list?
As we reported earlier, Coinbase shared a list of 50 coins in a blog post. Cryptocurrency exchange generally shares with such a list that it evaluates its listing on the exchange. The assets purchased by the wallet in question were NDX, RADAR, RAC, DFX, PAPER. The user spent $27,000 on PAPER, $64k on NDX, $70k on RAC, $72k on RADAR, $80,000 on DFX, and $88k on CROM.
Most of the listed assets were in an uptrend. Assets are up about 30-40 percent after Coinbase’s blog listing. This ETH wallet is estimated to generate the most earnings through listing. You can access all 50 coins in Coinbase’s list in this article we prepared as Kriptokoin.com.
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