ARB, LDO, BLUR, HNT prices find support as Coinbase brings tokens to German residents
|- Coinbase exchange has listed Arbitrum, Lido DAO, Blur, Helium, and four other tokens for trading in Germany.
- Germany stands among European countries with the most crypto owners, which explains the exchange's continued interest.
- The announcement has seen ARB, LDO, BLUR, and HNT pausing their downtrends.
ARB, LDO, BLUR, and HNT token holders have taken a hiatus from their longstanding downtrends after a recent announcement for the largest cryptocurrency exchange in the US, Coinbase.
Also Read: IMF cautions against crypto as legal tender, Coinbase disagrees
Coinbase lists additional tokens for European customer base
Coinbase Exchange has announced listing eight more tokens for its customer base in Germany. Beginning July 25, residents of Germany can trade Arbitrum (ARB), Lido DAO (LDO), Blur (BLUR), (Helium (HNT), MultiversX (EGLD), 00 Token (00), Audius (AUDIO), Automata (ATA).
HNT, BLUR, ARB, EGLD, 00, AUDIO, LDO, and ATA are now available to German residents.
— Coinbase Assets ️ (@CoinbaseAssets) July 25, 2023
HNT, BLUR, ARB, EGLD, 00, AUDIO, LDO, and ATA are now available to German residents.
— Coinbase Assets ️ (@CoinbaseAssets) July 25, 2023
In this respect, trading entails buying, selling, converting, sending, and receiving, with the platform asking the customers to refresh their applications to access the service. The development is enviable, with token holders for other assets like PEPE and VeChain (VET) also advocating for listing these tokens.
Token listing is a bullish fundamental pointing to the trust, credibility, and legitimacy attached to an asset. The listing adds to the liquidity of the four altcoins, which means the assets become more available for selling or buying. With more traders coming in to invest in the assets, their value is bound to grow. Token listing also increases demand and trading volume by extension.
The move is a show of Coinbase looking to grow its offerings in Germany, which is reputed for being one of the largest playing fields for cryptocurrency owners in Europe. A March report indicated that as of November 2022, "crypto in Germany was a trend that mainly interested younger people.
ARB, LDO, BLUR, HNT listing implication on asset prices
While PEPE and VET token holders anticipate a listing of their own, ARB, LDO, BLUR, and HNT token holders have taken the news with excitement, indicated by a change in price action from their previous trends. Specifically, the information has helped the four altcoins secure support, breaking falls that could have seen individual token holders incur losses.
ARB/USDT 1-Day Chart, LDO/USDT 1-Day Chart, BLUR/USDT 1-Day Chart, HNT/USDT 1-Day Chart
ARB, LDO, BLUR, and HNT have found support at $1.165, $1.956, $0.299, and $1.460, respectively. If buyers enter the market at these levels, the tokens' price could pivot and rally north. A sustained buying pressure could see the altcoins break above their respective hurdles to rake in more gains for investors.
However, when looking at optimism around other altcoins, it is easy to forget the current state of Bitcoin (BTC) price and its impact on altcoins. At the time of writing, BTC is exchanging hands for $29,212 after losing its crucial support at $29,872. The slump has harmed altcoins, causing a cascade of declines across the board.
Unless Bitcoin finds its footing and corrects north, altcoins may continue to suffer. This means Arbitrum, Lido DAO, Blur, and Helium prices could continue south once the current listing mania dissipates.
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