Coinbase has announced the addition of Ether.fi (ETHFI) and Bittensor (TAO) to its listing roadmap, fueling a surge in both token prices.
Coinbase Announces ETHFI and TAO Listings
Coinbase, the largest US-based crypto exchange, has revealed plans to list Ether.fi (ETHFI) and Bittensor (TAO). This move signals that both tokens meet Coinbase’s legal, compliance, and security standards.
ETHFI is a decentralized protocol token that offers liquid staking and restaking for Ethereum. TAO serves multiple functions in the Bittensor ecosystem, acting as both a utility token and a reward mechanism.
Coinbase confirmed the listing via a post on X (Twitter) and shared the contract addresses for both tokens.
Trader Reaction: ETHFI and TAO Prices Surge
Following the announcement, ETHFI and TAO skyrocketed by over 30% before experiencing slight corrections. This price jump aligns with the common “buy-the-rumor, sell-the-event” trend seen when major exchanges announce new listings.
For example, Base token (TOSHI) surged 70% after being added to Coinbase’s listing roadmap. A similar pattern occurs when Binance, the largest global crypto exchange, announces new listings.
Why Coinbase Listings Matter for Token Prices
Listings on top exchanges like Coinbase and Binance often trigger strong price movements due to several factors:
✅ Increased Liquidity → More traders can buy and sell the token easily.
✅ Reduced Volatility → Higher trading volume leads to price stability.
✅ Greater Accessibility → A broader investor base gains exposure.
✅ Enhanced Credibility → Coinbase’s listing process adds legitimacy to projects.
With Coinbase leading US crypto trading and Binance dominating global volume, their listing announcements play a crucial role in market movements.