Since their debut on leading cryptocurrency exchange Coinbase Pro, the prices of four altcoins have skyrocketed in double digits.
- IoTex (IOTX);
- Tribe (TRIBE);
- Orion Protocol (ORN);
- Quickswap (QUICK) surged from 20% to 75% within 24 hours of posting.
According to SafeTrading, the four dollar pair tokens are currently in “full trading mode” on its platform.
IoTex is a platform that aims to connect Internet of Things (IoT) devices and decentralized applications, and TRIBE is the Fei protocol control token. Orion Protocol is a Decentralized Financial Platform (DeFi) and Quickswap is a Decentralized Exchange. (DEX).
- “Our IOTX-USD, IOTX-USDT, IOTX-EUR, ORN-USD, ORN-USDT and TRIBE-USD order books are now in full trading mode. Limit, market and stop orders are now available. “
According to SafeTrading, IOTX altcoin signals are up 75 percent from a low of $ 0.080744 to $ 0.141670 over a 24-hour period and continue to rise. ORN, on the other hand, rose 25 percent from a daily low of $ 9.11 to $ 11.43 on the same day.
QUICK is up 20% to hit $ 694.53 from the last 24-hour low of $ 580.94.
TRIBE gained almost 19 percent, recording the lowest gains among all four cryptocurrencies. The governance token hit $ 0.842668 from a 24-hour low of $ 0.709872.
The central cryptocurrency exchange announced that it began accepting incoming token transfers on August 10. The quartet is not yet available on Coinbase.com or the exchange’s mobile apps.
If we look at the data while recording; According to SafeTrading, IOTX is up 37.01 percent to $ 0.1292 in the past 24 hours, TRIBE is down 14.50 percent to $ 0.6892, ORN is down 14.20 percent to $ 8.95 and QUICK is down 8 .08 percent to $ 609.74.
In the first week of August, Coinbase added support for two altcoins that rallied after their listing. These were the Alchemy Pay (ACH) payment token and the blockchain gaming platform’s own token, as well as the PlayDapp (PLA) immutable token (NFT) marketplace.
Coinbase added support for Alchemy Pay (ACH) and PlayDapp (PLA) altcoin signals in the first week of August, and the prices of these altcoins have skyrocketed as a result of their inclusion on the platform.
Bitcoin enters the institutional era – what rate will drive the price up?
Network market analyst Glassnode says the millions of dollars in bitcoin transaction growth is a sign of institutional involvement.
According to Glassnode, the number of Bitcoin (BTC) transactions in excess of $ 1 million has increased from nearly one-third to over two-thirds of the total BTC value transferred since September 2020.
- “Since September 2020, the share of these large transactions has increased from 30% to 70% of the total amount of transfers.”
Small transactions fell from two-thirds to about one-third of the total value transferred, according to Glassnode.
According to a market analyst firm, the growing prevalence of high-value transactions indicates that “a new era of institutional and wealthy capital is flowing through the Bitcoin network as of 2020.”
Glassnode also notes that the total long-term investor (LTH) holding has hit a record 82.68% as the supply of short-term investors (STH) shrinks. The analyst firm defines coins held in LTH as coins with a minimum age of 155 days, and coins up to 155 days as coins held in STH.
Glassnode says a “major supply cut” occurs when STH’s supply reaches 20%. According to Glassnode, STH’s redundancy rate is currently 25%. According to the analyst, the STH supply volume required for price increases could be reached by mid-September.
- “While the supply cut based on STH’s supply ratio has yet to hit 20%, there are many indicators and trends in the game that suggest it could hit that level by mid-September.”
Another big jump in prices for Axie Infinity (AXS).
New 30% price jump for Axie Infinity (AXS) with Coinbase effect.
Coinbase Pro, the largest US cryptocurrency exchange, has announced that it will list a number of cryptocurrencies. Among them are Axie Infinity (AXS).
Axie Infinity (AXS) also took off with this listing announcement. Coinbase listing announcements have a positive impact on coins in general. This is what the crypto community calls the Coinbase Effect. Now the price of AXS has skyrocketed 30 percent in the hours following the announcement. The recent growth is clearly visible in the chart below. Axie Infinity has seen similarly impressive growth a while back.
1-day chart AXS-USDT.
The leading US exchange has announced a list of new tokens that will be listed on the Coinbase Pro version of its trading platform on August 11th.
- Besides AXS, which we mentioned above, REQ, TRU and LUNA are other tokens that will be on the exchange. Users can now deposit all four coins on the exchange starting August 11th.
- Coinbase said in a statement that support for these coins “will generally be available in Coinbase supported jurisdictions, with a few exceptions.”
- In addition, trading on all new coins will begin on August 12 at 20:00 CEST. Provided, of course, that all liquidity requirements are met. Orders will be active in three stages: only an open order, only a limit, and a full deal.
In addition, the four mentioned tokens will be traded at multiple parties. These pairs include Dollar (USD), Tether (USDT), Euro (EUR) and Bitcoin (BTC).
The AXS token is the native cryptocurrency of the popular blockchain-based virtual video game Axie Infinity. The price of the AXS has risen from $ 59 to $ 77 for this new development. After a 30% increase, it has slightly declined and is now trading at $ 66.
Following this growth, Axie Infinity (AXS) entered the top 30 cryptocurrencies with a market value of $ 4 billion.