Coinbase listing: Insider trading of an Ethereum (ETH) address is suspected

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A potential insider trading before a listing on Coinbase?

Duration coin base Published on his blog Monday, April 11th, a list of 50 altcoins studied for a possible listing on the platform could include an Ethereum address. insider trading.

This crypto phenom CobieNoting this irregularity on Twitter:

I found an ETH address that bought hundreds of thousands of dollars worth of tokens privately in a Coinbase Asset Listing post about 24 hours before it went live, rofl

—Cobie (@cobie) April 12, 2022

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If all this might be a very good coincidence for the average investor, the odds don’t really point that way. Actually an address was created and purchased on the Ethereum network 6 out of 50 coins quoted by Coinbase 24 hours before official releaserecommends insider trading.

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These assets are:

  • Indexed (NDX);
  • Chromatica (CHROM);
  • DappRadar (RADAR);
  • RAC (RAC);
  • DFX Icon (DFX);
  • Paper (PAPER).
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everything rises approximately $400,000 at the time of this writing. While nothing can prove this at the moment, this chain of events suggests that the person behind this address somehow knew about the upcoming Coinbase announcement.

👉 Digging Deeper – Learn how to analyze tokenomics to find a crypto to invest in

Coinbase Effect

We’re talking about the Coinbase effect when the platform lists a new asset and suddenly sees its capital increase sharply. thanks to advertisement. For example, this was the case recently when the exchange listed Orca (ORCA) and Bonfida (FIDA). Solana’s SOL, the blockchain where these two tokens came from, saw its price increase by 21% within 24 hours.

probably that leverage What was the owner of the address in question looking for today?

However, it should be noted that in this list of 50 altcoins, not all necessarily rated on Coinbase. This is a list of projects under review that may arrive on the platform in a timeframe stretching through June 30. However, nothing guarantees that they will be listed.

This is an innovation that has just been implemented by the exchange. now pre-announced on his blogassets it plans to potentially offer for exchange.

The argument put forward for this is a desire. increase transparency and dissemination of knowledge. So this time someone might be a little too transparent on Coinbase.

👉 Also in the news – Bored Monkeys in theaters – a movie trilogy will be made by Coinbase

Sources: Etherscan, Coinbase Blog

Source From: Google News

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