An altcoin that rewards consumers for interacting with their favorite brands is soaring after a surprise listing by top US crypto exchange Coinbase.
Coinbase says in a tweet that Shping Coin (SHPING) will start trading on Coinbase Pro once appropriate liquidity conditions are met.
SHPING is an Ethereum token that powers the Shping App, which allows shoppers to earn rewards by comparing prices, scanning barcodes, watching videos, and writing product reviews.
News of the Coinbase listing sent SHPING on a massive rally from $0.015 to $0.068 in just a few hours, a staggering 353% increase.
Shping Coin then sharply corrected before climbing to an even higher price of $0.102, its all-time high. However, SHPING has since strongly dipped once again and is exchanging hands at $0.055 at time of writing.
In addition to rewards and savings for shoppers, the project’s website says brands will also benefit from its services.
“Build an audience of brand followers to easily re-engage with at any time through multiple channels.
Get detailed insights on your shopper’s profile to use across all marketing channels.”
Shping already has several brand-name partnerships, including Vegemite, Gaia Skin and Body, and Heinz Baby Basics.
Coinbase says that the altcoin will be available to trade paired with USD and Tether (USDT). However, it’s currently not available on Coinbase.com or the exchange’s mobile apps.
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Featured Image: Shutterstock/Berezovska Anastasia/Sensvector