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Axie Infinity (AXS) receives a 30% boost from Coinbase Effect

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  • Coinbase has announced the addition of a new batch of coins to its Coinbase Pro platform
  • AXS, WLUNA, TRU, and REQ are among the coins that saw considerable price increases after being listed
  • The currencies will be available for trading in most Coinbase-supported jurisdictions beginning today

Coinbase is the largest crypto exchange in the United States in terms of volume of purchases and sales, as well as one of the world’s largest buying and selling platforms. It’s also known for the fact that it’s regulated and that it recently became public. As a result, it is exceedingly selective when it comes to itemizing fresh currency and tokens, requiring potential candidates to meet stringent requirements.

Coin price soars up as soon as it gets listed in Coinbase

However, once a coin is picked and accepted, its listing on Coinbase usually results in a significant price increase, which has become known as the Coinbase Impact. Effectively, the effect was just observed in motion once more as Coinbase Professional listed the most recent batch of acceptable digital property, including Axie Infinity (AXS/USD), which soared by 30 percent in only a few hours after being listed.

The price spike occurred on August 11th, after Coinbase announced the addition of the next batch of cryptocurrencies to its platform. Apart from AXS, the main US exchange also extended support for WLUNA, TRU, and REQ. Since August 11th, all of that money has been available for a deposit.

In the present, cash will begin buying and selling

With a few exclusions, the business also announced that support for the coins will be available in all Coinbase-backed nations. Trading in these coins, however, will begin today, August 12, at 9 a.m. PT. There is, however, one prerequisite that must be met first: all liquidity criteria must be met. The order books will be made available in three stages: post only, limit only, and full trading.

Each of these cryptocurrencies will also be matched with USD and EUR, as well as BTC and USDT. The price of AXS increased by 30% after the announcement, from $ 59 to $ 77. The growth also aided the project’s market value, which climbed to a position among the top 30 cryptocurrencies. In comparison to the other listed currencies, REQ climbed by more than 100%, TRU by roughly 60%, but WLUNA’s price only increased by 10%. With eToro, our preferred broker, you can invest in cryptocurrencies, equities, ETFs, and more in minutes.

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