As a seasoned analyst with over a decade of experience in the dynamic world of cryptocurrencies, I have witnessed numerous listings on major exchanges that have dramatically impacted tokens’ prices and trajectories. The recent announcement by Coinbase, the undisputed leader in the U.S. crypto exchange market, regarding its support for Across Protocol (ACX) token is no exception.
As a crypto investor, I witnessed an exciting 14% surge in the price of Across Protocol (ACX) token following Coinbase’s announcement of their support for this asset. Being the leading cryptocurrency exchange in the United States, their backing significantly boosted confidence in ACX. The announcement also revealed that ACX would be integrated into the Ethereum Network, providing us with valuable instructions on how to effectively utilize it.
Listings on crypto exchanges like Coinbase can significantly influence token prices, creating excitement among investors who expect increased adoption. A recent announcement from Coinbase, shared via X (once known as Twitter), ignited a surge of enthusiasm in the ACX community, with users expressing confidence about the token’s potential future success.
On their platform, Coinbase announced that support for ACX would be provided, though this will only apply to specific geographic regions. The trading of ACX is planned to start on August 21, subject to sufficient liquidity levels. Additionally, they mentioned that the ACX-USD trading option will gradually become available once the required supply thresholds have been achieved.
Upon the release of the listing, there was a generally optimistic response, with several in the crypto sphere anticipating further increases for ACX. After the announcement, the token’s value surged to $0.4295, mirroring an upward trend that has resulted in a 22.4% increase over the past week.
The monthly data also showed a growing pattern, as ACX increased by 4%, exiting the negative territory.
As a researcher, I’m observing an intriguing development in the market value of Across Protocol. Currently, it stands at approximately $59.2 million. Moreover, daily trading volumes have experienced a significant surge, rising by 49% to exceed half a million dollars, specifically $650,000. This escalation in activity is indicative of a growing interest in ACX, following its integration into the Coinbase platform.
Coinbase’s backing of ACX isn’t fully recognized yet, but its initial indications point towards a promising future for the token.
Read More
Sorry. No data so far.
2024-08-21 00:05