Coinbase, a leading cryptocurrency exchange, has announced the addition of Sky (SKY) and USDS (USDS) to its listing roadmap.
The announcement triggered a double-digit rise in the SKY token’s price. Meanwhile, trading volume for both tokens increased, signalling increased trader activity.
Coinbase Includes 2 Tokens in Listing Roadmap
Coinbase announced the addition in the latest X (formerly Twitter) post. For SKY, the contract address is 0x56072C95FAA701256059aa122697B133aDEd9279. Furthermore, for USDS, it is 0xdC035D45d973E3EC169d2276DDab16f1e407384F.
However, it is worth noting that transfers and trading for the altcoins are not yet supported. Coinbase clarified that it will officially announce the listing in a separate announcement.
“The launch of trading for these assets is contingent on market-making support, and sufficient technical infrastructure. We will announce the launch of trading separately once these conditions have been met,” the exchange added.
For context, SKY and USDS represent evolved versions of existing tokens within the cryptocurrency ecosystem. SKY, the upgraded successor to MKR, serves as the governance token for the Sky Protocol (formerly MakerDAO).
Meanwhile, USDS is an upgraded version of the DAI stablecoin. It offers access to native token rewards, further expanding its utility within the decentralized finance (DeFi) space.
Coinbase’s decision to include these assets on the roadmap has triggered notable market activity. Following the announcement, SKY surged to $0.091. This represented a price increase of approximately 11%, reflecting investor optimism about its potential listing.
It shed some of its gains to trade at $0.081 at the time of writing. Still, the price was up 6.7% over the past day. Furthermore, the trading volume spiked by 54.1%, bringing it to around $9 million.
Similarly, USDS’ trading volume surged to $4.9 million, a 65.7% increase from the previous day. Previously, Coinbase’s listing of Wormhole (W) also led to substantial price gains of approximately 12%. However, the token faced a correction.
Market data showed that the altcoin was up 1.1% over the past day. At the time of writing, W’s trading price stood at $0.073. Moreover, the trading volume exceeded $81 million, a 20.2% uptick.
The price increase is consistent with previous patterns observed for Fartcoin (FARTCOIN), Subsquid (SQD), or Ethena (ENA) when they secured a spot on the roadmap. Notably, the roadmap addition was followed by a swift listing.
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