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Shiba Inu, Chiliz, Keep Network Soar After Being Added to Coinbase Pro
Coinbase added SHIB little more than a month after that coin's creation, in marked contrast to its addition of dogecoin.
The price of the tokens behind dogecoin rival Shiba Inu, fan token platform Chiliz and Keep Network, a platform that aims to bridge public blockchains and private data, are soaring after leading crypto exchange Coinbase announced it is adding them to its professional platform.
STORY CONTINUES BELOW
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- Effective today, Coinbase Pro users can transfer their CHZ, KEEP and SHIB into their accounts. Trading will begin on or after 9 a.m. Pacific time. CHZ and SHIB won't be available to New York residents.
- In response to the additions, which mean millions more people can trade the tokens, the price of SHIB, Shiba Inu's token, is up more than 31% over the last 24 hours, while the price of CHZ, the token of Chiliz, is up 18.3% over the last 24 hours. Keep Network's token, KEEP, is up 14%.
- Coinbase added SHIB little more than a month after that coin's creation, in marked contrast to its addition of dogecoin, which seemed to take doge years. This reflects a sea change in the approach of the exchange, a change announced at the time of its addition of dogecoin on June 1.
- The revised policy came a month and a half after the crypto exchange went public on Nasdaq under the ticker COIN. Coinbase's stock is now significantly below its initial trading price.
Kevin Reynolds
Kevin Reynolds was the editor-in-chief at CoinDesk. Prior to joining the company in mid-2020, Reynolds spent 23 years at Bloomberg, where he won two CEO awards for moving the needle for the entire company and established himself as one of the world's leading experts in real-time financial news. In addition to having done almost every job in the newsroom, Reynolds built, scaled and ran products for every asset class, including First Word, a 250-person global news/analysis service for professional clients, as well as Bloomberg's Speed Desk and the training program that all Bloomberg News hires worldwide are required to take. He also turned around several other operations, including the company's flash headlines desk and was instrumental in the turnaround of Bloomberg's BGOV unit. He shares a patent for a content management system he helped design, is a Certified Scrum Master, and a veteran of the U.S. Marine Corps. He owns bitcoin, ether, polygon and solana.
