Coinbase adds TOSHI, price increases 70%

Coinbase adds TOSHI, price increases 70% – Exciting market!

Coinbase, the largest cryptocurrency exchange in the United States, has added Toshi (TOSHI) to its listing roadmap. TOSHI operates on the Base network, joining...

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Coinbase, the largest cryptocurrency exchange in the United States, has added Toshi (TOSHI) to its listing roadmap.

TOSHI operates on the Base network, joining Ethereum’s QCAD (QCAD) and Solana’s Peanut the Squirrel (PNUT).

TOSHI Soars On Coinbase Listing Plans

Coinbase announced an update on X (Twitter), indicating that TOSHI is a new addition to the listing roadmap. This trading platform also share Contract address for Token based on Base.

“New assets added to the roadmap today: Toshi (TOSHI),” Coinbase said.

After Coinbase’s listing announcement, TOSHI increased nearly 70% before profit-taking sales appeared.

TOSHI Price Performance. Source: TradingView

This increase is a normal reaction of Tokens following listing announcements on popular cryptocurrency exchanges. For example, Virtuals (AIXBT), ChainGPT (CGPT), and Cookie DAO (COOKIE) aixbt recently skyrocketed after Binance announced the listing of these three AI agent tokens.

Besides the phenomenon of “buying rumors, selling events”, this increase also comes from expectations of increased liquidity. Exchanges like Binance and Coinbase have high trading volume and liquidity, making it easier for traders to buy and sell Tokens.

High liquidity often leads to rising prices, as it reduces price volatility and makes it easier for traders to enter and exit positions. Other factors may also include increased accessibility, which increases demand, reputation and trust.

Along with the listing announcement, Coinbase also highlighted an experimental label that could be applied to newly listed assets. When TOSHI is listed on Coinbase, this label will help distinguish a new Token, protecting it from volatility due to its new arrival.

Coinbase’s decision to include TOSHI in its future listing pipeline is the result of their “thorough legal, compliance, and technical security review process and standards.”

“These standards do not take into account market capitalization or project popularity,” Coinbase adds.

Notably, Coinbase only supports two types of assets: native assets on their network, like ETH, and tokens that comply with a supported token standard, like Ethereum ERC20, Solana SPL, and Avalanche ARC20.

“TOSHI listed ahead of SKI and BRETT because they built things. Coinbase has clearly requested the necessary roadmap for native Tokens and TOSHI has implemented this,” said one user on X comment.