Coinbase Adds TOSHI to Listing Roadmap, Price Jumps 70%

Coinbase, the largest cryptocurrency exchange in the US, has announced the addition of Toshi (TOSHI) to its listing pipeline.

TOSHI, operating on the Base network, joins the list along with QCAD (QCAD) of Ethereum and Peanut the Squirrel (PNUT) of Solana.

TOSHI price surges due to Coinbase listing plan

Coinbase shared this information in a post on X (Twitter), stating that TOSHI is a new addition to their listing pipeline. The US-based exchange also shared the contract address for this Base-based token.

"Asset added to our pipeline today: Toshi (TOSHI),"

Coinbase said.

Immediately after Coinbase's listing announcement, the TOSHI price surged nearly 70% before investors took profits.

This price increase is a common reaction of tokens after being listed on popular cryptocurrency exchanges. For example, aixbt of Virtuals (AIXBT), ChainGPT (CGPT), and Cookie DAO (COOKIE) have recently surged after Binance announced the listing of these three AI Agent tokens.

Besides the "buy the rumor, sell the news" scenario, these price surges occur in the context of heightened liquidity expectations. Exchanges like Binance and Coinbase have high trading volume and liquidity, making it easier for traders to buy and sell tokens. Higher liquidity typically leads to price increases, as it reduces price volatility and helps traders enter and exit positions more easily. Other factors include increased accessibility, thereby increasing demand, credibility, and trust.

Along with the listing announcement, Coinbase also highlighted a potential experimental label, often applied to newly listed assets. When TOSHI is listed on Coinbase, this label will help differentiate the new token and protect it from volatility due to its novelty.

Coinbase's decision to add TOSHI to its future listing pipeline follows what the exchange describes as "a thorough legal, compliance, and technical security review process."

"These standards do not consider market capitalization or project popularity,"

Coinbase added.

Notably, Coinbase only supports two types of assets: native assets on their networks, such as ETH, and tokens that follow the supported token standards, such as Ethereum ERC20, Solana SPL, and Avalanche ARC20.

"TOSHI is listed before SKI and BRETT because they have built a product. Coinbase has been clear about the necessary pipeline for base tokens and TOSHI has delivered,"

a user on X joked.

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