This Cryptocurrency Spikes 10% as Coinbase Prepares for a Listing

TL;DR

• Coinbase added Render (RNDR) to a certain section, resulting in a 10% value increase for the asset.
• Past cryptocurrencies placed in that zone, like Bonk Inu (BONK) and Hivemapper (HONEY), have also seen significant price surges.

One of the leading cryptocurrency exchanges – Coinbase – has added support to the digital asset Render (RNDR) by placing it on its “roadmap” section.

Assets added to the roadmap today: Render (RENDER)https://t.co/rRB9d3hSr2

— Coinbase Assets 🛡️📞 (@CoinbaseAssets) January 30, 2024

RNDR’s price has reacted positively to the announcement, soaring by approximately 10% and surpassing $4.80. It slightly retraced in the following hours, currently trading around $4.63 (per CoinGecko’s data).

It is worth noting that cryptocurrencies placed in Coinbase’s “roadmap” zone must meet certain criteria before being officially listed. 

“Transfers and trading are not supported for these or any other assets until a listing is officially announced. Depositing these assets into your Coinbase account before an official announcement may lead to permanent loss of funds,” the company warned.

Not long ago, the exchange put the Solana meme coin Bonk Inu (BONK) on its “roadmap” section, triggering a substantial price rally. It later officially embraced the token, with the value surging even more.

The same thing happened with another Solana-based asset – Hivemapper (HONEY). Its value exploded by over 100% at the start of January when Coinbase placed it in the experimental zone. Two weeks later, it hit an all-time high of $0.33 following the company’s official support.