We look at how assets related to these posts performed against BTC, ETH, XMR, ZEC and DOGE as benchmarks.
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We will also look at data leading up to and briefly following the Jpost, however the full impact of listings from that post has not occurred as of the time of this writing. The most complete examples to review are the effects from the and posts. However, we exclude this set as a majority of these assets were not trading elsewhere either because the supply is locked, still in IOUs, or privately held. Additionally, we will focus on three sets of assets that were announced for exploration by Coinbase in these blog posts.Ĭoinbase made an additional announcement on Sep 19, 2019.
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Source: Coin Metrics Reference Rates Methodology Additionally, we explore the market conditions at time of announcement, and how different market environments (bear vs.
In this piece, we explore three separate instances that Coinbase announced they would be exploring new assets for potential listing and analyze how the assets performed afterward. However, there is another big factor that influences the impact of the listing: market conditions. With the industry consensus being that Coinbase is the largest ‘retail’ onramp, the impact of a Coinbase listing should hold some significance on assets that might make the cut. Binance, Bittrex, and Poloniex are exchanges known for listing the long tail of altcoins, but what about Coinbase? The simple suggestion or rumor that you will be listed on a top exchange has the potential to turn a valueless crypto “bag” into a large profit. With the recent rise in altcoin prices and volumes, it is as good a time as any to discuss a phenomenon that typically elicits a lot of trading activity: The Coinbase listing.Įxchanges with a significant amount of market share at times can be “king makers” for altcoins. We compare these changes in a bearish, bullish, and flat market using past examples.ĭoes a Coinbase Listing Always Deliver Results? The price movements surrounding these events are less significant and largely related to the general market regime at time of announcement. Coinbase’s ‘Exploration’ announcements tend to have less of a direct impact on the mentioned asset’s prices.Price trends seen with assets such as the recent OmiseGo listing are outliers. The uplift from a listing is more muted than some may perceive, with the average and median uplift ranging from roughly -1% to 14% against US Dollar, Bitcoin, and Ethereum benchmarks.A Coinbase listing has historically shown, not surprisingly, to have a positive impact on listed assets’ prices immediately following the announcement.A review on the impact of Coinbase’s Listings and “Exploration” announcements on the markets of those assets included in the announcements.
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