Coinbase is adding 2 new altcoin projects to its roadmap as part of Solana (SOL) staking. The effect of the announcement on prices reached double digits.
Coinbase listing news blows these 2 altcoin projects
The US-based cryptocurrency exchange decided to list for Marinade (MNDE) and Marinade Staked SOL (MSOL). MNDE is the management token of Marinade, a DAO operating on the Solana network. It also supports mSOL, a SOL derivative token representing stake SOL. MNDE and MSOL are currently preparing the Coinbase listing. But the announcement is already triggering double-digit rallies.
MNDE and MSOL skyrocketed after news of listing
MDNE gained more than 52% at one point after the announcement. It is currently trading at $0.06848. It gained a strong momentum of 346.37% in the last 24-hour trading volume. However, it is currently correcting around 18% as traders continue to take profits at higher levels.
MSOL, a Solana-based staking token, has been on the decline in recent days. After the Coinbase news, it had the opportunity to recover from the $ 28,600 region. MSOL is currently trading at $29.68. It has lost around 4.5% in value compared to the last 24 hours.
This year, Coinbase created a new roadmap to increase transparency and reduce the likelihood of front-running listing announcements. Coinbase CEO Brian Armstrong stated that he aims to list as many cryptocurrencies as possible as long as they follow the exchange’s rules:
It’s similar to Amazon or something like that where a product can have three or five stars, but if it starts getting one star consistently, it’s probably fake, defective or something else and maybe Amazon will remove it. If not, you should leave it to the market to decide what those items are.
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