ETHFI and TAO surge following Coinbase listing announcement
Coinbase adds ETHFI and TAO to its listing roadmap after rigorous evaluation.
Coinbase, the largest US-based crypto exchange, has added Ether.fi (ETHFI) and Bittensor (TAO) to its listing roadmap.
The move follows a rigorous evaluation process that considers legal, compliance, and technical security factors rather than market cap or popularity.
Loading...
Key Takeaways
- New Listings: Coinbase has included ETHFI, a token offering liquid staking and restaking for Ethereum, and TAO, a multi-functional utility and reward token from Bittensor, in its roadmap.
- Listing Criteria: The exchange’s strict evaluation process focuses on legal and technical security standards.
- Market Reaction: Both ETHFI and TAO token prices surged by over 30% following the announcement before profit booking set in.
- Liquidity Impact: Increased liquidity from listing on a major exchange like Coinbase typically enhances accessibility, credibility, and overall market trust.
Coinbase’s Strategic Expansion
Coinbase’s decision to add ETHFI and TAO reflects its commitment to supporting innovative projects that meet its established standards. By sharing the contract addresses on X (formerly Twitter), Coinbase confirmed that these tokens align with its listing criteria, which only accepts native network assets or tokens conforming to supported token standards.
ETHFI price dynamics. Source: coinmarketcap.com
Market Response and Implications
Following the announcement, traders reacted positively, with both ETHFI and TAO experiencing immediate price surges of over 30%. This pattern is consistent with past listing announcements on major exchanges such as Binance, where increased liquidity and higher trading volumes often lead to rapid price appreciation and reduced volatility.
The Broader Context
This listing decision is part of a broader trend where major crypto exchanges boost market confidence by carefully selecting tokens that meet rigorous standards. Enhanced accessibility and credibility, combined with the “buy-the-rumor, sell-the-event” phenomenon, continue to shape market dynamics and drive investor interest in newly listed assets.
Recently we wrote, that crypto exchange Coinbase has acquired Spindl, a platform specializing in onchain advertising and attribution.
