Coinbase is seeing a lot of fantastic press this week. The crypto exchange is hitting the market next week, and it is bringing lots of cryptos into the spotlight with it. A handful of altcoins are getting a nice boost this week by finding their way to the platform right before the Coinbase IPO. In riding the wave of popularity, these coins could make a killing.
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The Coinbase IPO is shaping up to be the most-hyped public offering of the the year. Retail investors and venture capitalists alike see the value in Coinbase’s offering. Chamath Palihapitiya went to Twitter recently to discuss the unique opportunity, calling it a chance to both own the currency and the exchange.
As cryptocurrency becomes more mainstream, investors are given broader power by owning the institutions on which crypto is built. Coinbase’s IPO is a big first step in this. And, as such, analysts are continuing to up Coinbase’s stock value as the big day approaches.
Altcoins Reap the Benefits of the Coinbase IPO
We’ve seen before what a Coinbase listing can do for a crypto. Cardano (CCC:ADA) received a big boost when it was listed on Coinbase Pro, for example. Dogecoin (CCC:DOGE) fans see this, and are demanding a listing on Coinbase, as they believe it will catalyze big gains for the token.
Four new altcoins are harvesting the rewards of jumping on the Coinbase wagon today. Coinbase put out a press release on its blog yesterday, announcing the listing of these four coins just days before Coinbase goes public.
Let’s take a look at the budding altcoins that will likely see big gains after their Friday Coinbase listing:
- 1INCH (CCC:1INCH) is the token of decentralized exchange aggregator 1inch. What sets this crypto apart from others is that it aggregates the exchange rate of coins across all the leading decentralized exchanges. This allows users to get the best prices for contract execution.
- Enjin Coin (CCC:ENJ) is the coin of Enjin. The game and app developer uses this coin to allow users to exchange NFTs that are created on the platform.
- NKN (CCC:NKN) is a public blockchain that rewards users with tokens for utilizing unused bandwidth via network connections.
- Origin Token (CCC:OGN) is the crypto of the Origin platform, a decentralized peer-to-peer marketplace.
On the date of publication, Brenden Rearick did not have (either directly or indirectly) any positions in the securities mentioned in this article.