Coinbase Listing Fuels Shiba Inu’s Valuation by 30%
Coinbase has yet again demonstrated its role as a crypto frontrunner, this time providing three tokens a massive boost just after they were listed. Upon its listing, Shiba Inu, a well-known memecoin that so many consider to be Dogecoin’s kin, soared by more than 30%.
Chilliz and Keep Network, two additional coins that debuted on Coinbase on June 15, also saw significant price increases. Shiba Inu (SHIB), Chilliz (CHZ), and Keep Network (KEEP) will all be available on Coinbase starting today.
With the exception of customers in Singapore, users can commence transferring the three tokens into their Coinbase Pro accounts.
Chilliz and Shiba Inu are likewise unavailable to New York citizens. Trading will begin on June 17 if all liquidity requirements are satisfied. Shiba Inu jumped 33% to $0.000009331 nearly soon after the listing was announced.
The memecoin has continued to hold most of its gains over the last 24 hours, and it is currently trading at $0.000008933 at press time. The increase in trade volume is particularly noteworthy. The volume increased by 254 percent to $1.6 billion, as per our statistics. The trading volume of altcoins is still dominated by Binance and Huobi.
Shiba Inu’s market capitalization has risen to $3.5 billion. This renders it the 30th most valued cryptocurrency, more precious than NEO, IOTA, Bitcoin SV, Maker, and Tezos, which have a more established network and use cases. Given that SHIB only began operations in August of last year, this is a remarkable achievement.
Chilliz, the token that underpins Socios.com, a fan token trading platform, has also gained endorsement from Coinbase. In recent times, the platform has grown in popularity, with several of the world’s most well-known athletic companies creating their unique branded tokens on Socios.com. Chilliz has gained 26% in the last day and is currently trading at $0.36, with a market worth of $2.1 billion.
Keep Network (KEEP), the third token, is the least well-known of the three. KEEP soared to $0.62, up from $0.49 before. Nevertheless, at the time of writing, the token had given up some of its gains and was trading at $0.59. In the last 24 hours, it has gained 15%. The market capitalization of KEEP is $313 million.
Inbound transfers for CHZ, KEEP & SHIB are now available in the regions where trading is supported. Traders cannot place orders and no orders will be filled. Trading will begin on or after 9AM PT on Thurs 6/17, if liquidity conditions are met. https://t.co/r2L6N477Uj
— Coinbase Pro (@CoinbasePro) June 15, 2021
— DJ JY (@DJJY) June 15, 2021
The Keep Network uses ‘keeps’ to store private data on public blockchains. Keeps are off-chain enclosures that let contracts handle and utilize private data without revealing it to the public blockchain. The network brands itself as “Ethereum’s first private computer.”