Three lesser-known cryptocurrencies (altcoins) saw huge price jumps after being listed on Coinbase, a major US cryptocurrency exchange.
A Quick Surge for AI and Oracle Coins
The price increases happened quickly after the coins were added to Coinbase’s platform. The coins involved were:
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Kaito (KAITO): This “InfoAI” project aims to fix problems with how digital assets are handled. It nearly doubled in price, shooting up almost 100% in a single day. At the time of writing, it’s trading around $1.92.
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Bittensor (TAO): This open-source platform lets people create and trade AI learning models. It saw a quick jump from around $445 to $484 (an 8.7% increase) before settling back down to around $453.
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Pyth Network (PYTH): This decentralized oracle provider also got a boost, climbing 12% from $0.235 to $0.263 before retracting slightly to $0.243.
A Coinbase Effect?
The quick price increases suggest that simply being listed on a major exchange like Coinbase can create significant short-term excitement and buying pressure for these altcoins. However, it’s important to remember that these are relatively new and potentially volatile investments. It’s crucial to do your own research before investing in any cryptocurrency.
Disclaimer: This information is for general knowledge only and is not financial advice. Investing in cryptocurrencies is risky, and you could lose money. Always do your own thorough research before making any investment decisions./p>
