Large US-based cryptocurrency exchanges, Coinbase and South Korea’s well-known exchange Upbit have announced that they will be adding new Altcoins to their trading platforms.
The list includes support for both exchange herds (swarms) and Coinbase also introduces SPX6900 (SPX). These moves have caused a significant price surge. Furthermore, the former peaked at new record highs during early Asian trading hours today.
Coinbase and Upbit announce new Altcoin list
On the official X (formerly Twitter), Coinbase confirmed that it lists both Altcoins. Transactions are scheduled to begin after 9am on September 9th and after Pacific Time (PT). The rollout will continue if there is an appropriate token supply.
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“Coinbase will add support for SPX6900 (SPX) to the Ethereum Network (ERC-20 token) and add herds (swarms) to the base network. Do not send these assets to other networks.
Additionally, trading of SPX-USD and group USD pairs will be implemented in phases. The exchange also revealed that availability of these assets may vary from region to region as some jurisdictions face restrictions.
Following the announcement of Coinbase, SPX, Meme Coin, has experienced a slight price rise. Prices rose from $1.33 to $1.41, showing an increase of 6.02%. The pump was short-lived, with the token falling 1.26% at press, reducing profits to trade at $1.32.
Meanwhile, Flock saw a more pronounced rise. Altcoin rose from $0.26 to $0.30, a 15.38% increase, reflecting early market enthusiasm. These movements are in line with the so-called “coinbase effect.” Lists on the platform often lead to instant price increases due to increased visibility and perception of legitimacy.
Coinbase news has spurred a modest profit, but Upbit’s decision to add a flock to the Korean Won (KRW) market has sparked a much stronger response.
“Before creating a deposit of digital assets, make sure you have the correct network. Deposits or withdrawals made through networks other than those shown are not supported,” Upbit writes.
Trade began at 12pm on the Korean standard time (KST), with the herds skyrocketing. Altcoin’s price surged from $0.31 to $0.99, up 219.35%, the latter marking a new all-time high (ATH).
At the time of writing, the price was adjusted to $0.50, giving an 84.37% rating. Additionally, Flock’s daily trading volume has skyrocketed. It reached $197 million, an increase of 2,051.30% from the previous day.
Bithumb and Upbit account for the majority of this activity, with 23.2% and 22.9% stakes, respectively, highlighting the exchange’s significant impact on token liquidity.
The continuous list highlights how regional exchange support can expand the momentum of the global market. Coinbase’s brand power and Upbit’s advantage are expected to combine to push the herd into the spotlight, and volatility and trading activity continue to rise as liquidity deepens.
