Coinbase names new listing candidates, including BUSD and the BitDAO token

The Coinbase exchange announced a change to its listing approach: the platform will now publish in advance an open list of candidate cryptocurrencies.

The company explained that this step is needed to increase information symmetry and to ensure fairer conditions in the cryptocurrency market.

In crypto circles, a pattern known as the “Coinbase effect” has gained wide notoriety: the price of a crypto asset tends to surge after listing on an exchange. This can give insiders with foreknowledge of the upcoming listing an edge.

The Coinbase administration published a list of 50 projects whose listing could take place by June 30. It includes 45 ERC-20 tokens and 5 assets from the Solana ecosystem. Among them are Binance USD, the third-largest stablecoin by market capitalization, with a capitalization of over $17.8 billion, and the token of the BitDAO project.

Prices of some assets on the list rose notably after Coinbase published the list. At the time of writing, the price of the DappRadar token had risen by more than 30% over the past 24 hours, according to CoinGecko.

Apricot Finance on the Solana blockchain rose by 21%, to $0.029.

In the summer of 2021, Coinbase stated that the platform plans to eventually add support for all legally permitted cryptocurrencies.

Earlier, Coinbase announced plans to release a TV series about NFTs from the Bored Ape Yacht Club collection.

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