A little-known, under-cap altcoin has corrected sharply after a mind-blowing 580% price jump this week following a surprise Coinbase Pro listing.
A little-known altcoin has been listed on Coinbase: Its price exploded and crashed!
On Wednesday, Coinbase Pro listed Shping Coin (SHPING), an Ethereum-based token that powers the Shping App. The listing started a staggering price surge that took the coin from $0.015 to an all-time high of $0.102. Shping App allows shoppers to earn rewards by comparing prices, scanning barcodes, watching videos and writing product reviews.
SHPING has since corrected more than 64% and the 480th-ranked coin by market cap is trading at $0.034 at the time of writing. Amid the massive price swings of SHPING, the US-based crypto exchange has expanded its full retail support for the token. The exchange has also added full support for Stacks (STX). Customers can now buy and trade altcoins on both Coinbase.com and the exchange’s mobile apps.
Traded on Coinbase Pro on Stacks
Stacks is an open source Blockchain linked to Bitcoin (BTC) with a consensus mechanism that spans two chains called proof of transfer. Through this architecture, Stacks aims to leverage the security of Bitcoin and enable decentralized applications (DApps) and smart contracts. Coinbase Pro listed the coin on its platform earlier this week.