I wrote a post about a week ago about how I believed Coinbase was still a major influence on token value and bull runs. I noted that ADA was listed and wanted to see if it would have any effect on it's price.
I sunk $5 into it to see if it would and I have to admit there has been 0 to negative traction on the token. I thought that I was wrong and that I had blown it.
This put me at odds with all the data and information I had been sourcing around token price, trends and aligning them with coinbase listings. To my calculations it should have equated to an instant 25% boost to ADA, but it didn't.
Two days ago I saw that coinbase did something it had never done before, it listed 4 coins simultaneously. But there weren't too many notifications about it. It was like a hidden listing with it only being mentioned in the below linked articles. ADA remained as the top "new coin listed".
Punters were across this though and the new tokens listed specifically Ankr began on a bull run. I watched but I didn't invest, sadly. Prior to Coinbase listing Ankr was trading at $AUD0.01c and now it has increased to a whopping $AUD0.16c. That's quite a significant rally.
I really want to single out Ankr here because just like CUB it has two versions of itself. An ERC20 and a BSC version, noting that I thought that this would scare.off investors. Surely only I and the many CUB loyalists would be silly enough to take such risks? Nope turns out a lot of others are happy to take the plunge also and do not care where the coin is built.
Ankr has some similar features to CUB around cross chain interoperability and supports users to use multiple block chains but I don't see it as advanced as CUB and I guess this is what is reflected in its 16c price VS CUB $US2 which is almost $AUD3 I believe.
Given the bull run just experienced by Ankr and the other coins listed on coinbase it appears the method still remains true, that listing on Centralised exchanges and more likely Coinbase is an insurance that your token will boom.
Coinspot the Aussie version has had Ankr listed for quite some time and hasn't seen much growth. I'd anticipate the user base of cojnspot is not that great.
So why do I think ADA didn't react to the Coinbase listing? I think due to its age. It is an older coin that has been around a while and it's user base is relatively low. The projected growth isn't really something that can be guaranteed and it's probably at a price point that people aren't willing to throw a $20 or a $50 at.
I'm interested to see where Ankr ends up so I've finally thrown a $50 note at it (bang right in the face) I'm a lil disappointed as I wanted to use it on CUB but I take it that if it performs like its previous predecessor NU which opened at around 17c and ended up at 90c when I sold that's a good few hundred bucks that I can than use to swing around and pump Leo with.
Only time will tell but I'll keep you posted on any updates.
As always, I'd love to hear your thoughts on the topic. Do you think centralised exchanges are required to sustain the healthy growth of token value and are you excited that a wrapped version token has been listed and ballooned in price?