Why Coinbase’s listing announcement has more than what meets the eye

ambcrypto.com:

On 11 April, Coinbase announced its decision to list over 50 assets made up of 45 ERC-20 tokens and 5 Solana Program Library tokens. Since then, however, the exchange giant has been under fire as many believe that a few of the tokens could be irrelevant or subject to massive rug-pulls.

As expected in some quarters, some of these tokens saw a significant increment in value. Big Data Protocol (BDP) and Dope Wars Paper [PAPER] rallied by over 100% and 80%, respectively, which led many to question the choice of selected tokens.

In fact, pseudonymous crypto-analyst Cobie has accused the cryptocurrency giant of “remaining on the bleeding edge of decentralization” while  “pioneering continued trustless technology adoption by listing rugged, dead shitcoins over a year after they died.”

In saying so, Cobie also did a little digging into some of the proposed digital assets. He noted that following Coinbase’s announcement,  assets like Big Data Protocol, which had previously vanished over the past year after locking people out of their assets, pumped by 132%.The announcement pushed it to a market cap of $3.3M.

He further claimed that over the last year, assets like Polkamon and StudentCoin have seen rug pulls. These episodes have bled investors of hundreds of thousands of dollars in investments.

Let’s take a look at these highly desirable assets.

— Cobie (@cobie) April 12, 2022

Furthermore, Cobie also claimed that he found an ETH wallet that made heavy purchases worth hundreds of thousands of dollars. These purchases apparently involved tokens featured in the announcement roughly 24 hours before