On August 10, , one of the world's leading exchanges, has announced the launch of NEAR on its listing route. This shows that This is currently among the assets the exchange plans to offer on the platform.

After the above announcement, rapidly increased 12% during the day. It was even trading as high as $6, before changing hands at $5.81 at press time.

The listing above often leads to a sharp increase in price, often referred to as the “Effect”. ". However, whether Is it possible to achieve the same result?

Is the Coinbase Effect a Legend?

Since the announcement so far, the NEAR price has only increased by 6%. In July, the general market rally helped earned 28%. Prior to the announcement, NEAR raised 25%. When news of Coinbase's intention to list tokens emerged, the price increased by 12% that day.

However, with a value of $5.81 at press time, NEAR has returned to the pre-announce price zone.

Furthermore, on August 11, NEAR experienced significant trading activity with intraday trading volume on the network rising to a high of 847 million.

Before the end of the day, however, trading activity began to wane. As of press time, the transaction volume on the network is 244.56 million – down over 200% in just four days.

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Source: Santiment

When assessing whether a potential listing on Coinbase would boost the coin's price, Ooki Protocol's OOKI can be considered. It was also added to the exchange's listing roadmap on Aug. 12. Trading as high as $0.0087 following the announcement, the altcoin saw an intraday gain of 29%.

At the time of writing, at $0.007658, OOKI has lost 11% from the aforementioned gain. In addition, the trading volume of altcoins has made significant strides in the past two days. Even so, it has shown signs of weakening.

The source: Santiment

In a 2021 report titled “Pump Analysis Messari’s Roberto Talamas analyzed the performance of several tokens during the first five days of listing on Coinbase and found that they recorded an average 91% price increase in the first five days.

However, he concludes:

“Listing on Coinbase has the potential to positively impact asset returns but not uniformly.”

When NEAR is listed, the price boom is expected to be just 'sooner and late'. Just like the coins previously listed on the exchange, a drop in price is expected to occur a few days after the listing.