Threshold (CRYPTO: T) is up over 94%, hours after Coinbase (NASDAQ:COIN) said it is adding it to its listing roadmap.
What Happened: Threshold is a small-cap altcoin project built on Ethereum (CRYPTO: ETH).
Coinbase announced its roadmap for the listing of T coin, a signal that Threshold may soon join the Coinbase global exchange. The move is intended to increase transparency and reduce the possibility of insiders gaining an unfair advantage by front-running the listing announcement.
The news of this listing has already had a huge impact, driving the 24-hour value of the T coin from $0.0245 to a high of $0.046, a 94% surge.
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The Threshold team says it is creating a suite of cryptographic services to take blockchain user sovereignty to the next level. Their first project is tBTC: a decentralized bridge that allows Bitcoin (CRYPTO: BTC) holders to transfer their BTC onto the Ethereum network and use it as an Ethereum-pegged asset.
Asset added to the roadmap today: Threshold (T) https://t.co/rRB9d3hSr2
— Coinbase Assets (@CoinbaseAssets) January 23, 2023
It's important to remember that just because Coinbase has added an asset to its roadmap, it doesn't mean that it's guaranteed to be listed on the exchange. The asset must first pass Coinbase's review process, which is run by the company's Digital Asset Listing Group. Once approved, the asset will then be listed on the exchange.
Price Action: ETH was trading at $1,637, down 0.15% in the last 24 hours, according to Benzinga Pro.