On March 23, the Coinbase listing “Bump” reappeared when the exchange announced that it would list Ankr (ANKR), Curve DAO Token (CRV) and Storj (STORJ) on Coinbase Pro.
A blog post on the leading U.S. cryptocurrency exchange found that incoming wire transfers for ANKR, CRV, and STORJ will be available from March 23rd. Trading is expected to begin with liquidity conditions on or after 9 a.m. Pacific Time (PT) on Thursday, March 25th. “
While there has been discussion in the past as to whether or not a Coinbase listing could still have a positive impact on price movement, today’s announcement led to double-digit rallies for all three projects on an otherwise red market day.
ANKR / USDT
The Ankr Network is a blockchain-based distributed computing platform that provides developers with an easy and inexpensive way to deploy multiple blockchains to harness the idle power of devices and data centers.
ANKR has been in a hot phase since the beginning of February. The price rose 900% from a low of $ 0.011 on February 1 to a record high of $ 0.109 following the announcement by Coinbase, and multiple announcements of partnerships and protocol upgrades resulted in a steady price increase in trading volume.
According to data from Cointelegraph Markets Pro, market conditions have been favorable for ANKR for some time.
The VORTECS ™ Score, exclusive to Cointelegraph, is an algorithmic comparison of historical and current market conditions derived from a combination of data points such as market sentiment, trading volume, recent price movements and Twitter activity.
As can be seen in the graph above, VORTECS ™ for ANKR started rising on March 18th, peaking at 70, approximately 12 hours before the price rose 32% over the next two days.
After the ANKR price fell on March 21st, VORTECS ™ began rising again, hitting a high of 76 on March 23rd, five hours before the price rose 36% after the listing was announced.
CRV / USDT
Curve Finance is an Ethereum (ETH) based decentralized exchange and automated market maker protocol based on the CRV token. The main goal of the exchange is to facilitate exchanges between stable coins like USDC, DAI and other ERC-20 tokens like WBTC and renBTC.
CRV token holders have the option of depositing their coins on the network and participating in governance votes that will control the future development of the platform, as well as receiving part of the fees generated by the protocol.
CRV benefited from the growth in decentralized finance (DeFi) for the first two months of 2021, seeing prices jump nearly 600% from a low of $ 0.52 on Jan 11 to a high of $ 3.67 on Feb 6 .
VORTECS ™ data from Cointelegraph Markets Pro identified an optimistic outlook for CRV on March 22, ahead of the recent price hike.
As can be seen in the graph above, after an increase in the CRV price, the price started falling between March 17th and 20th, while the VORTECS ™ value turned green on late March 20th.
The CRV price continued to decline over the next two days, while the VORTECS ™ value remained stable and turned green several times. It hit a high of 66 on March 22, ten hours before the price would rally 48%.
STORJ / USDT
Storj (STORJ) is an Ethereum-based token that supports a cloud storage platform called Tardigrade, which uses a decentralized network of nodes to securely host user data using advanced encryption.
When users upload files to Tardigrade, portions of each file are distributed to the global network of independent nodes that store the data until someone requests a specific file. At this point, they will be safely recompiled and made available for download.
This process enables files to be stored securely without having to trust a central data center such as Amazon Web Services or Google Cloud. Users of the network who make their resources such as unused hard disk space and bandwidth available for Tardigrade receive STORJ tokens as a reward.
Since hitting a low of $ 0.445 on February 23, when the cryptocurrency market saw a sharp correction, STORJ’s price rose 311% to a high of $ 1.83, following Coinbase’s announcement on March 23.
While the significant price growth over the past 24 hours for ANKR, CRV and STORJ shows that the Coinbase surge remains a strong source of price movement, the steady growth and adoption of the project was a more important driver of their price action.
From cloud storage, computing power and unused bandwidth to decentralized financing and stock exchanges, decentralized networks are growing in importance and strength, with no signs of an imminent slowdown.