Coinbase exploration report leads to over 100% price gains for MITX, KROM and BDP
United States-based cryptocurrency exchange Coinbase sent waves across the cryptocurrency ecosystem on Apr. 11 when it released a list of 50 crypto assets that were under consideration for listing in the second quarter of 2022 in a bid to increase the transparency of its listing process.
Responses to the release were mixed and led to some allegations of insider trading by crypto sleuths, while a majority of crypto traders took a deeper dive into the list in an attempt to discover diamonds in the rough.
Following a week’s worth of trading that saw many of the tokens on the list experience pump-and-dumps, the dust is beginning to settle revealing Morpheus Labs (MITX), Kromatika (KROM) and Big Data Protocol (BDP) as the top three gainers from the Coinbase announcement.
Morpheus Labs (MITX) is a project that offers an extensive blockchain development toolbox designed to simplify the process of decentralized application development across a variety of networks and programming languages.
Data from Cointelegraph Markets Pro and TradingView shows that, following the Coinbase announcement, the price of MITX skyrocketed 185% from a low of $0.014 to a daily high of $0.04 on Apr. 15.
In addition to the Coinbase announcement, the protocol has seen positive news flow tied to its so-called NFT Launcher, as well as the launches of the Morpheus Labs Launchpad and SEED developer portal.
Kromatika Finance is a decentralized crypto trading protocol that offers users a zero swap fee trading environment that eliminates front-running bots and prevents price slippage.
Data from CoinGecko shows that on Apr. 9, KROM was trading at a price of $0.0525 before rallying 145% to a high of $0.13 on Apr. 12. The token is currently trading at $0.11.
Develop
Read more on cointelegraph.com
