Coinbase Listing Leads To Massive Rally For Two New Altcoins

Two altcoins, Centrifuge and TROLL, both rallied after Coinbase announced an official listing. The exchange added them to the roadmap two days ago, making this a quick turnaround.

TROLL is a meme coin based on Trollface, while CFG is part of an RWA tokenization platform. Both assets have posted double-digit gains in the last few hours.

Coinbase’s Altcoin Listings

Coinbase has been listing many new tokens lately, and it isn’t planning to slow down any time soon. Earlier today, Coinbase announced that it’d open spot trading for two altcoins tomorrow, prompting market enthusiasm:

Both of the altcoins in question, Cetrifuge (CFG) and TROLL, posted large gains after the Coinbase listing. CFG in particular posted consistent gains; while TROLL saw spikes, crashes, and rebounds, Centrifuge maintained steady growth punctuated by minor plateaus.

Centrifuge (CFG) Price Performance. Source: CoinGecko

Some altcoin traders were surprised by Coinbase’s actions, claiming that the exchange acted with extreme speed. TROLL and CFG only appeared on the listing roadmap two days ago, but they’re scheduled to go live tomorrow.

Nonetheless, these assets do have notable histories in the space.

Token Histories Explained

Centrifuge, an RWA tokenization platform, has been active for several years. Although it only launched the CFG token earlier this May, it has tokenized over 1700 assets and financed more than $1 billion in total assets.

This kind of background makes a speedy Coinbase listing seem very sensible.

TROLL, by contrast, is a bit more common. It’s a meme coin based on the classic Trollface from 2008, but the actual token was launched in April.

After staying at a token price of around 1 cent for most of the year, it spiked to 27 cents last month, but has since diminished. This altcoin has exhibited more chaotic behavior after the Coinbase listing.

TROLL Price Performance. Source: CoinGecko

Nonetheless, although TROLL has been more chaotic, it exhibited a higher price growth percentage than CFG. Despite their different characters, both of these altcoins have benefited from the Coinbase listing.

Clearly, the exchange still has the ability to inspire massive token rallies.