Coinbase Announcement Sparks 45% Surge in ZORA Coin

Cryptocurrency exchanges trigger significant price movements in altcoins through their listing announcements. Recently, Coinbase made a notable announcement on its roadmap for listing ZORA Coin, which led to a sudden increase in its price.

Why is ZORA Coin Rising?

Following the announcement from Coinbase, ZORA Coin saw a remarkable 45% increase, rising above $0.034. However, after this spike, the price retraced significantly, falling back below the resistance level of $0.027. Since its recent listings, this altcoin had struggled to surpass this critical price point.

The cryptocurrency social media application, known for its airdrop announcements, has faced serious criticism. However, being included in Coinbase’s listing roadmap indicates that a listing announcement might come soon, representing a strategic move. We have seen that altcoins generating volume, especially those entering the market through airdrops, often get listed shortly after being added to such roadmaps.

While Coinbase is not obligated to list all altcoins included in its roadmap, it usually announces listings shortly after adding hype tokens to the roadmap, making it a procedural approach.