Coinbase has added BankrCoin (BNKR) and Treehouse (TREE) to its platform, leading to an 88% surge in BNKR’s price and volatile trading for TREE due to airdrop selling pressure.
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Coinbase officially supports BNKR on the Base network starting July 30, 9 AM PT, with phased trading rollout.
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Treehouse (TREE) launched with an experimental label on Coinbase and saw initial price gains followed by a 43% decline.
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COINOTAG reports BNKR’s rapid price increase and TREE’s market challenges amid high trading volumes and airdrop effects.
Coinbase lists BankrCoin and Treehouse, sparking major price moves; stay updated with COINOTAG for the latest crypto market insights.
Coinbase Confirms BNKR and TREE Listings, Driving Market Activity
Coinbase, a leading US cryptocurrency exchange, has expanded its asset offerings by listing BankrCoin (BNKR) on the Base network and Treehouse (TREE) on Ethereum. Trading for BNKR began at 9:00 AM PT on July 30 with a phased rollout, while TREE launched with an experimental label indicating potential volatility. These additions triggered notable market reactions, with BNKR’s price surging significantly and TREE experiencing mixed results.
What Are the Trading Details for BNKR and TREE on Coinbase?
BNKR trading is supported exclusively on the Base network, and Coinbase warns users to avoid sending BNKR over other networks to prevent fund loss. The exchange also noted regional restrictions may apply, limiting access in some jurisdictions. TREE is live on Coinbase’s web and mobile platforms under an experimental status, allowing users to buy, sell, convert, and store the token. This label reflects the token’s nascent stage and potential price fluctuations.
How Did BNKR and TREE Prices React Post-Listing?
Following Coinbase’s announcement, BNKR’s price surged 88%, climbing from approximately $0.00050 to $0.00094 before stabilizing near $0.00061, marking a 20.8% gain at press time. TREE saw an initial 10.77% increase from $0.65 to $0.72 but later dropped to $0.64, down 0.38%. The price decline for TREE is attributed to selling pressure from airdrop recipients, a common trend among newly launched tokens.
BNKR and TREE Price Performance. Source: TradingView
Why Is TREE Facing Volatility Despite High Trading Volume?
Treehouse (TREE) debuted recently and quickly became one of the top trending cryptos on CoinGecko, with a 24-hour trading volume reaching $334 million. Despite this, TREE’s price has fallen roughly 43% since launch, largely due to airdrop selling pressure. This phenomenon occurs when new token holders sell their airdropped assets, causing short-term price dips. TREE’s Binance listing and airdrop distribution contributed to this dynamic, signaling typical early-stage volatility.
How Does Coinbase’s Listing Strategy Impact Emerging Tokens?
Coinbase’s inclusion of BNKR and TREE reflects its ongoing strategy to support promising altcoins while managing risk through experimental labels and phased rollouts. This approach boosts token visibility and liquidity but also exposes new assets to market volatility. BNKR’s strong price response highlights investor interest, whereas TREE’s fluctuations underscore the challenges new tokens face post-launch, especially amid airdrop distributions.
Frequently Asked Questions
What networks support BNKR trading on Coinbase?
BNKR trading on Coinbase is supported exclusively on the Base network. Sending BNKR over other networks may result in fund loss.
How does the airdrop affect TREE’s price volatility?
Airdrop recipients often sell their tokens shortly after receiving them, causing temporary price drops and increased volatility for TREE.
Key Takeaways
- BNKR Listing: Officially supported on Coinbase’s Base network starting July 30, with phased trading.
- TREE Volatility: Experienced initial gains but faced a 43% price drop due to airdrop selling pressure.
- Market Impact: Coinbase’s listings drive significant price movements and highlight investor interest in emerging altcoins.
Conclusion
Coinbase’s addition of BankrCoin (BNKR) and Treehouse (TREE) demonstrates its commitment to expanding altcoin offerings while managing risk through phased launches and experimental labels. BNKR’s strong price surge contrasts with TREE’s volatility, reflecting typical market behavior for new tokens. Investors should monitor these developments closely as Coinbase continues to influence crypto market dynamics.
