According to statistics provided by CoinMarketCap, the cryptocurrency with the most robust momentum currently is Threshold (T) despite a sharp decline over the last 24 hours.
Over the previous seven days, the price of T has climbed by 130% whereas, over the past 30 days, the price has increased by 220%.
Threshold blasts higher
Interestingly, most of the price increase was recorded yesterday when the currency dramatically jumped more than 95%, driving its price from about $0.032 to a high of $0.061 in a couple of hours. Even if it has declined little from its high point of the previous day, it is still positive, having made a significant leap over the week.
Is Coinbase the reason behind the surge?
Coinbase announced on Jan. 23 their strategy for listing the T currency, which resulted in a bit of price change for the remainder of the trading day. The next day, the token remained with the positive trend but with greater vigor, as traders believed that Threshold might soon be listed on the Coinbase market.
The decision by Coinbase to reveal its path for listing the coin was made to increase openness and reduce the chance of insiders receiving an unfair advantage due to the listing announcement.
However, it is essential to remember that including a token on Coinbase’s listing roadmap does not guarantee that the exchange will list the coin in question. For Coinbase to offer the currency, it must first go through its approval procedure.
Threshold is doing the most to climb up the ranks
Even though Threshold is a low-cap alternative cryptocurrency based on the Ethereum network, the news that it has made it onto the listing roadmap for Coinbase has undoubtedly piqued the interest of many investors. Its first product is the tBTC, a decentralized bitcoin bridge.
The project is developing a website that will provide cryptography solutions for the user sovereignty of blockchain technology. tBTC gives bitcoin owners the ability to move their bitcoin onto the ethereum network and utilize it there as a token backed by ethereum’s value.