Toncoin (TON), Plasma (XPL) Rebound as Coinbase Announces Listing

Toncoin (TON) rebounds more than 3% and Plasma (XPL) by 5% on Thursday. This comes as Coinbase crypto exchange added crypto assets to its listing roadmap today, sparking massive speculation of an upcoming upside momentum among crypto market participants.  

Coinbase Announces Toncoin (TON) and Plasma (XPL) Listings

In an X post on November 13, Coinbase Markets revealed that Plasma (XPL) and Toncoin (TON) were added to the listing roadmap today.

The launch of trading for these crypto assets is subject to change and will depend on market conditions and sufficient technical infrastructure, the crypto exchange said.

We will announce the launch of trading separately once these conditions have been met.

Market participants now await a final listing announcement by Coinbase, considering the demand and use cases for Toncoin and Plasma. Earlier announced tokens such as ASTER, FLUID, and Nomina (NOM) remain in the listing roadmap.

Ton Foundation president and CEO Max Crown quoted Toncoin listing as “exciting news” on historical data suggesting a price rally after Coinbase listing.

As per Dune data, Plasma has processed more than 80 million transactions until now, averaging two million daily. In October, the high-performance stablecoin blockchain reached its ATH with nearly 200K daily active users.

Prices Climb Higher on Listing Announcement

TON price jumped 3% from a 24-hour low of $1.99 in the last few hours. The price is currently trading at $2.06, with a 24-hour high of $2.12. Trading volume has also increased by 30%, indicating a rise in interest among traders.

XPL price climbed 5% to $0.265 over the past 24 hours. The 24-hour low and high are $0.253 and $0.275, respectively. Furthermore, trading volume has decreased by 6% in the last 24 hours.

The derivatives market showed massive buying activity on TON and XPL in the last few hours, as per CoinGlass data. At the time of writing, TON futures open interest rose 7% to $130.53 million in 24-hour period. In contrast, the 24-hour XRL futures open interest jumped 5% on Binance and 8% on OKX, with a total increase of 7%.