This Cryptocurrency Spikes 10% as Coinbase Prepares for a Listing

TL;DR

• Coinbase added Render (RNDR) to a sure part, leading to a ten% worth improve for the asset.
• Previous cryptocurrencies positioned in that zone, like Bonk Inu (BONK) and Hivemapper (HONEY), have additionally seen vital value surges.

One of many main cryptocurrency exchanges – Coinbase – has added help to the digital asset Render (RNDR) by inserting it on its “roadmap” part.

Belongings added to the roadmap at present: Render (RENDER)https://t.co/rRB9d3hSr2

— Coinbase Belongings 🛡️📞 (@CoinbaseAssets) January 30, 2024

RNDR’s value has reacted positively to the announcement, hovering by roughly 10% and surpassing $4.80. It barely retraced within the following hours, presently buying and selling round $4.63 (per CoinGecko’s knowledge).

It’s value noting that cryptocurrencies positioned in Coinbase’s “roadmap” zone should meet sure standards earlier than being formally listed. 

“Transfers and buying and selling aren’t supported for these or another property till an inventory is formally introduced. Depositing these property into your Coinbase account earlier than an official announcement could result in everlasting lack of funds,” the corporate warned.

Not way back, the change put the Solana meme coin Bonk Inu (BONK) on its “roadmap” part, triggering a considerable value rally. It later formally embraced the token, with the worth surging much more.

The identical factor occurred with one other Solana-based asset – Hivemapper (HONEY). Its worth exploded by over 100% firstly of January when Coinbase positioned it within the experimental zone. Two weeks later, it hit an all-time excessive of $0.33 following the corporate’s official help.