The cryptocurrency market has stepped into the green zone again. Leading crypto Bitcoin started to gather strength after the highly anticipated halving event. Altcoins are also generally keeping pace with Bitcoin. In this positive atmosphere, leading crypto exchange Coinbase announced that it will add an unknown altcoin to its list. However, contrary to the general listing news, the token price has dropped!
Coinbase gave the good news of listing KARRAT, the token price started to fall!
cryptokoin.comAs you follow from , the market is in search of new excitement. After Bitcoin left the halving behind, the market has not yet found its direction clearly. Analysts and experts are divided on direction. However, exchanges continue to work to improve their users’ experiences. In this context, the leading crypto exchange announced that it will add a new altcoin to its list.
Coinbase announced that it will make KARRAT (KARRAT) available for trading by users on its platforms. The exchange will support the token on the Ethereum network. Meanwhile, while exchanges usually make announcements regarding the timing of trading, Coinbase did not give a specific date for when trading will begin for KARRAT. Meanwhile, the exchange labeled the token as “experimental” due to its volatility potential. In this context, Coinbase made the following announcement:
If liquidity conditions are met, trading will begin later today. Once sufficient supply of this asset is ensured, trading in the KARRAT-USD trading parity will be gradually initiated. KARRAT support may be restricted in some supported jurisdictions. (…) Coinbase will add support for KARRAT with the ‘Experimental’ label.
With the first effect of this development, KARRAT price started to rise. However, the token then started losing altitude. KARRAT rose from its initial level of $0.86 during the day to $0.9364. However, the altcoin price later dropped to $0.8256.
Crypto products have seen their second weekly debut!
There was an outflow of $206 million in crypto investment products. Bitcoin led the losses with a weekly outflow of up to $192 million. Last week, digital asset investment products witnessed their second weekly outflow after investors withdrew $206 million. The transaction volumes of these exchange-traded products (ETPs) also decreased slightly, falling to 18 billion dollars.
According to a report by asset manager CoinShares, Bitcoin suffered the most significant loss compared to other cryptocurrencies, with outflows reaching $192 million. Despite Bitcoin experiencing these notable outflows, there has been little interest in short selling. Additionally, short Bitcoin funds also recorded outflows of $0.3 million. In contrast, multi-asset funds saw positive movement with inflows of $9 million.
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