Coinbase adds BIO and EUL to its asset roadmap, how are these tokens performing?

Coinbase has included Bio Protocol and Euler in its route map for assets, indicating that they can be mentioned on the exchange.

In a post of 29 x exchange crypto exchange coinbase announced That the Bio Protocol (BIO) and Euler (Eul) has added to its route map for assets.

After the announcement, Bio collected almost 17% before giving up part of his profits and acted slightly lower at the time of writing.

For the non -ingewe, Bio Protocol is the native token that a decentralized science (DESCI) ecosystem flows. It makes creating community-governed biotech research collectives, known as Biodaos, and supports the tokenization of scientific intellectual property.

Euler, on the other hand, the management of the administration for Euler Finance, a permission -free Defi -credit protocol was built on Ethereum. This allows users to borrow and borrow a wide range of crypto-assets, including long-tailed pokens that are not usually supported by other platforms. Eul has responded more in a more modest way and only increased 3.5% after the announcement.

Both tokens have already protected mentions on various popular cryptocurrency exchanges, such as Binance, OKX, Kraken, Gate.io, Mexc, Kucoin for Bio Protocol and Kraken, Kucain, HTX, Gate.io for Euler.

However, investors must take into account that Coinbase’s Asset Roadmap only indicates the cryptocurrencies that are currently being considered for possible mention and does not guarantee that they will eventually be added to the platform.

The CoinBase effect

As a Tier-1 exchange, Coinbase entries often result in short-term rallies. Crypto traders call it the ‘Coinbase effect’. The momentum stems from the reputation of the platform, the wide user base and the attraction between institutional investors.

Market participants tend to interpret lists as a signal of legitimacy, which often leads to increased demand and upward price pressure in the short term.

Historically, various tokens with double digits have registered intraday profits after a coinbase announcement or mention.

Although initial meetings are common, they are not guaranteed and do not always keep in the long term. Market conditions, dynamics for the range of token and a wider investor sentiment all play a role in determining whether the mention leads to permanent appreciation.

New, for example, the native token of Newton Protocol, crashed 44% shortly after the list on Coinbase. According to a report from Crypto.news, the sharp drop driven by investors who sold their airdropped tokens to obtain profit, which leads to increased sales pressure immediately after the offer.

Another example that underlines this volatility is the case of the token of Venice AI, VVV. Shortly after he was mentioned on Coinbase, the token saw a sharp initial pump. The rally, however, was short-lived and the price crashed after reports emerged that the project team reportedly had spent around $ 5.7 million on VVV tokens and sold around the time of the list.

Since both bio and eul are already mentioned at various large stock markets, the impact of a potential coinbase list may not be pronounced as pronounced as a newly launched token.