Coinbase Launches Support for New Crypto Assets on Retail Trading Platform

Coinbase is adding two altcoins built on Ethereum to its ever-expanding suite of crypto assets.

After initially only being available on Coinbase Pro, ARPA Chain (ARPA) and Perpetual Protocol (PERP) are now open for trading on the company’s main retail trading platform and mobile applications.



ARPA is the token that powers ARPA Chain, a blockchain-based computation network that features data storage, smart contracts that preserve privacy, and scalable off-chain transactions that can be used to counter credit fraud and secure data wallets.

Other use cases include precision marketing, joint AI model training, and key management systems.

Though ARPA saw its price skyrocket after the original Coinbase Pro listing announcement, it has since stabilized and is exchanging hands at $0.16 at time of writing. It is 13% down from its seven-day high of $0.18, according to CoinGecko.

PERP powers Perpetual Protocol, a decentralized platform for opening up leveraged perpetual contracts in fiat money, cryptos, or other commodities without the need for middlemen.

Perpetual contracts are derivative contracts like futures, except that they don’t have any expiration dates.

PERP is trading at $16.13 as of writing, a 20% decrease from its seven-day high of $19.28, according to CoinGecko.

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Bounce and Apra Chain surge 25% on Coinbase Pro listings

Leading United States cryptocurrency exchange Coinbase has announced three new listings on its Pro exchange, predictably causing the tokens’ prices to pump.

On Tuesday, Coinbase Pro announced new listings in Arpa Chain (ARPA), Bounce (AUCTION) and Perpetual Protocol (PERP). It confirmed that trading will become available on or after 21:00 PT on Tuesday, provided ample liquidity enters the market. The three tokens will be each paired with U.S. dollars, euros and Tether (USDT).

While AUCTION and ARPA rallied during the hours leading up to the announcement’s publication to each gain roughly 25% in the past 24 hours, the news appears to have stirred little interest among PERP traders.

After seeing a slight initial climb at the time of the announcement, PERP has lost 5% in the past 24 hours to last trade hands for roughly $17. PERP is currently down 30.7% from its Aug. 30 all-time high of $24.40, according to CoinGecko.

ARPA Chain, which enables privacy-focused smart contracts and off-chain transactions, began to see momentum roughly nine hours before the official announcement was published. According to CoinGecko, ARPA is up 25% over the past 24 hours and is roughly 8% of its Wednesday all-time high.

AUCTION, the native token of decentralized auction protocol Bounce, also surged at the time of the announcement, climbing 23% from roughly $33 to $40 in the past 24 hours.

Related: Regulatory and privacy concerns trail SEC’s threat to Coinbase

According to a Coin Metrics report published in June 2020, the impact of token listings on Coinbase Pro is significantly overstated. The report concluded that new Coinbase markets typically posted average price movements of around -1% to +14% from 10 days before until 10 days after the listing announcement.

In April this year, Messari posted a contradictory report finding that the “Coinbase effect” results in new tokens gaining roughly 90% on average after five days.