Gravity (G) has surged by 7% following Coinbase’s announcement to add the crypto to its listing roadmap. This move has generated significant excitement among investors and could mark a turning point for the crypto’s market performance. Usually, the listing hints or announcements tend to work as positive catalysts, especially for the new and emerging players in the market.

Gravity (G) Gains Traction Amid Coinbase Announcement

Coinbase, one of the leading crypto exchanges, recently unveiled its plan to include Gravity on its roadmap. The announcement read, “Assets added to the roadmap today: Gravity (G).” This decision is part of Coinbase’s broader strategy to enhance its asset offerings and provide users with a diverse range of investment options.

Meanwhile, the detailed report on Coinbase’s asset listing roadmap explains that the exchange has revamped its asset listing process. It has replaced the ‘assets under consideration’ list with a more transparent ‘Roadmap’ section.

This change aims to provide investors with clearer and more timely updates on which assets have been selected for listing, promoting greater confidence and informed decision-making.

However, the crypto exchange has cautioned users that transfers and trading of these assets are not supported until an official listing is announced. Depositing these assets prematurely could result in a permanent loss of funds. This warning underscores the importance of adhering to official announcements and updates.

Meanwhile, the addition of G crypto to the roadmap includes its ERC-20 token contract address, “0x9c7beba8f6ef6643abd725e45a4e8387ef260649”. This inclusion highlights Coinbase’s commitment to expanding its Ethereum-based offerings.

In addition, Coinbase has introduced an Experimental label for newly listed assets, which may apply to Gravity. Notably, this label signifies that the asset is in an initial phase and may carry higher risks and potential rewards.

Also Read: Peter Schiff Warns US Recession & Inflation Spike Ahead

Immediate Market Reaction

The market’s response to Coinbase’s announcement has been swift and positive. Gravity price saw a 7% increase in its value and rose to $0.04548 following the announcement. The surge reflects the investor confidence and anticipation of its potential listing on one of the largest crypto exchanges.

Gravity Chart

However, the surge was short-lived and the crypto soon came down to $0.04407, indicating the volatile nature of the asset. Meanwhile, by adding the G crypto, Coinbase is indicating its interest in innovative and promising assets. This move could attract more investors to the crypto, boosting its market presence and liquidity.

For investors, the addition of G to Coinbase’s roadmap presents new opportunities. It offers a chance to get involved with a promising asset at an early stage, potentially reaping significant rewards as the asset gains traction.

However, it also carries risks, especially given the Experimental label that may be applied. Having said that, investors should tread cautiously while putting their bets amid the volatile scenario in the market.

Also Read: Morgan Stanley To Offer Bitcoin ETF To Qualified Clients

The post Gravity (G) Rises 7% Amid Coinbase Roadmap Listing Update appeared first on CoinGape.

---

Filed under: News - @ August 2, 2024 5:49 pm