Coinbase, one of the largest cryptocurrency exchanges, has made new additions to its roadmap. The cryptocurrency exchange is adding altcoin projects that it plans to list in the future to this “roadmap”. For this reason, investors are closely following Coinbase’s announcements. Here are the details…
Coinbase has added these altcoin projects to its roadmap
Coinbase is notorious for adding many cryptocurrencies to positively contribute to their price. Cryptocurrencies listed on Coinbase, one of the largest cryptocurrency exchanges, as we have also reported as Kriptokoin.com, have a rapid upward trend. It’s even called the “Coinbase Effect”. Coinbase announced in its most recent post that it has made new additions to its “roadmap”. The roadmap of the stock market points to the coins that are likely to be added to the stock market in the future. You can see the 6 newly added cryptocurrencies and their features in the list below:
- Convex Finance (CVX): Convex Finance is a DeFi protocol that enables Curve liquidity providers to earn a share of transaction fees without depositing liquidity on Curve. Instead, LPs can stake with Convex and receive increased CRV and liquidity mining rewards.
- Ocean Protocol (OCEAN): Ocean Protocol is a Blockchain-based ecosystem that allows individuals and businesses to easily unlock the value of their data and earn money using ERC-20-based data tokens.
- Pundi X (PUNDIX): Pundi X is a leading developer of Blockchain-powered devices that aims to transform retail businesses with its Blockchain-based point-of-sale solution. The solution allows individual traders and consumers to perform instant in-store transactions on the Blockchain.
- Injective (INJ): Injective provides access to unlimited decentralized financial markets. Users can create any financial market on Injective’s fast, cross-chain, zero gas fee, secure and fully decentralized exchange protocol.
- Audius (AUDIO): Audius is a decentralized music streaming protocol that was originally built on the POA network but now lives in Solana. Audius was launched to address the inefficiencies of the music industry, which has been plagued by opaque music rights ownership and middlemen standing between artists and their audiences.
- XMON (XMON): It is an NFT platform.
Coinbase effect
In the past years, listing a cryptocurrency on Coinbase has been becoming a big deal. Because it was almost certain that the listed altcoin would rise. However, lately this effect seems to have diminished somewhat. Not only has the listed coins not risen much, Coinbase shares have lost nearly three-quarters of their value in 2022. In recent months, Goldman Sachs downgraded analyst Will Nance’s rating on the company as a rare “sale”.
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