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The Impact of the Possibility of Listing December 2018 – Bear Market This helps us to remove additional noise from our analysis. The reason for using multiple assets is so that we can reduce any false findings related to an unrelated trend in the benchmark asset.įurthermore, for consistency and simplicity we will look at the assets which we at Coin Metrics calculate Reference Rates for before and after the ‘event’ in question as these assets have met criteria that have allowed us to determine more accurate pricing, such as listings on reputable exchanges and volume that meets minimum thresholds. We look at how assets related to these posts performed against BTC, ETH, XMR, ZEC and DOGE as benchmarks.
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We will also look at data leading up to and briefly following the Jpost, however the full impact of listings from that post has not occurred as of the time of this writing. The most complete examples to review are the effects from the and posts. However, we exclude this set as a majority of these assets were not trading elsewhere either because the supply is locked, still in IOUs, or privately held. Additionally, we will focus on three sets of assets that were announced for exploration by Coinbase in these blog posts.Ĭoinbase made an additional announcement on Sep 19, 2019.
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The announcement that an asset is being listed with the listing following shortly afterįor this analysis we are considering the Coinbase or Coinbase Pro listing, whichever is first, to be the Coinbase listing date.The announcement that there is a possibility of a listing and.We will walk through an event analysis of two major parts of the altcoin listing cycle: Source: Coin Metrics Reference Rates Methodology Additionally, we explore the market conditions at time of announcement, and how different market environments (bear vs. In this piece, we explore three separate instances that Coinbase announced they would be exploring new assets for potential listing and analyze how the assets performed afterward.
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However, there is another big factor that influences the impact of the listing: market conditions. With the industry consensus being that Coinbase is the largest ‘retail’ onramp, the impact of a Coinbase listing should hold some significance on assets that might make the cut. Binance, Bittrex, and Poloniex are exchanges known for listing the long tail of altcoins, but what about Coinbase? The simple suggestion or rumor that you will be listed on a top exchange has the potential to turn a valueless crypto “bag” into a large profit. With the recent rise in altcoin prices and volumes, it is as good a time as any to discuss a phenomenon that typically elicits a lot of trading activity: The Coinbase listing.Įxchanges with a significant amount of market share at times can be “king makers” for altcoins. We compare these changes in a bearish, bullish, and flat market using past examples.ĭoes a Coinbase Listing Always Deliver Results? The price movements surrounding these events are less significant and largely related to the general market regime at time of announcement.
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Price trends seen with assets such as the recent OmiseGo listing are outliers. The uplift from a listing is more muted than some may perceive, with the average and median uplift ranging from roughly -1% to 14% against US Dollar, Bitcoin, and Ethereum benchmarks.A Coinbase listing has historically shown, not surprisingly, to have a positive impact on listed assets’ prices immediately following the announcement.A review on the impact of Coinbase’s Listings and “Exploration” announcements on the markets of those assets included in the announcements.