Unveiling the Impact of Listing on Leading Crypto Exchanges on Native Tokensโ Value ๐
If youโve been wondering about the correlation between listings on major crypto exchanges and the valuation of native tokens, recent events might give you some insights. Letโs delve into the recent price surge of Tensor (TNSR) following its listing on Coinbase and the implications for the broader crypto market.
The Surge of Tensor (TNSR) on Coinbase Listing ๐
โ The native token of a prominent Solana NFT marketplace, Tensor (TNSR), experienced a substantial price surge in the last 24 hours.
โ It briefly exceeded the $2.20 mark, currently trading around $1.90 according to CoinGecko.
โ The impressive spike of nearly 70% occurred shortly after Coinbase initiated trading services with the token.
โ Coinbase customers can now buy, sell, convert, send, receive, or store Tensor assets as per the companyโs announcement.
โ Earlier, Coinbase had placed TNSR in its โroadmapโ zone, specifying certain criteria for an official listing.
โ The exchange also added support for Tensor on the Solana network, warning users against sending the asset through other networks to avoid potential loss of funds.
Rising Trading Volume and Exchange Adoption ๐
โ Tensor, a recently introduced cryptocurrency, has made significant waves in the market with a daily trading volume surpassing $750 million.
โ This surpasses the volumes of well-established altcoins like Cardanoโs ADA and Avalanche (AVAX).
โ Besides Coinbase, another prominent exchange, OKX, has also welcomed TNSR, offering deposits and spot trading since April 8.
โ Withdrawals for TNSR/USDT pairs will be available shortly, adding to the accessibility and liquidity of the token.
Historical Trends: How Exchange Listings Impact Prices ๐
โ Recent examples show a consistent pattern of surging prices for cryptocurrencies following listings on major exchanges.
โ For instance, Ronin (RONIN) witnessed a significant price increase after listing on Coinbase, reaching nearly all-time highs.
โ Similarly, Akash Network (AKT) surged by 20% after being included in the โroadmapโ section, demonstrating the impact of exchange endorsements on token value.
โ Helium Mobile (MOBILE) also experienced a price surge to a two-month high after gaining support on the Solana network.
If youโre an active participant in the crypto market, understanding the repercussions of exchange listings on native tokens is crucial for optimal decision-making. The recent surge in Tensorโs value post-listing on Coinbase exemplifies the significant impact that exchange endorsements can have on token prices. Stay informed, stay vigilant, and capitalize on emerging opportunities in the dynamic world of cryptocurrencies!
Sources:
โ [Coinbase Twitter Announcement](https://twitter.com/CoinbaseAssets/status/1777418372797411720)
โ [OKX Listing Announcement](https://www.okx.com/help/okx-to-list-tensor-tnsr-for-spot-trading)
Owen Patter is a distinguished crypto analyst, accomplished researcher, and skilled editor, leaving a notable imprint on the cryptocurrency landscape. As a proficient crypto analyst and researcher, Owen delves into the intricate realms of digital assets, offering insights that resonate with a diverse audience. His analytical acuity is harmoniously paired with adept editorial skills, allowing him to transform complex crypto information into easily comprehensible content.