Coinbase Unveils Vital Announcements On ZK & WELL, What’s Next For Price?

As a seasoned analyst with over two decades of experience in the financial markets, I’ve seen countless announcements from exchanges like Coinbase spark significant market reactions. Today’s announcement of enhanced trading support for ZKsync (ZK) and Moonwell (WELL) tokens is no exception.


On Wednesday, the major cryptocurrency exchange, Coinbase, made important statements about ZKsync (ZK) and Moonwell (WELL) tokens. By improving trading options for these coins, Coinbase has created a sense of excitement among investors worldwide. Today, traders have responded favorably to this news as the volume of trades in these coins has increased by 5%-81%.

Coinbase Enhances Trading Support For ZK & WELL

On September 25, Coinbase announced in a series of official updates that they are expanding their trading options to include ZKsync and Moonwell. As per the exchange’s announcements, an auction has started for the WELL-USD pair, followed by a limit-only phase, and at the time of publishing this, the token is available for full trading.

At the same time, the leading cryptocurrency exchange unveiled that they introduced the ZK-USD trading pair for auction and then limit-only transactions today. Cryptocurrency market fans are hopeful that ZKsync might soon become fully operational for trading as well.

In summary, the CEX’s decision to back more tokens has sparked a great deal of excitement among investors about these digital assets. Historically, similar events have been accompanied by a positive atmosphere, often leading to increased prices due to the CEX’s involvement.

How Are The Coins Performing?

Significantly, at the present moment, the price of ZK is soaring by more than 10%, currently standing at $0.1352. Earlier today, its lowest and highest points were marked at $0.1235 and $0.1369 respectively. Interestingly, over the past week, the value of ZKsync has risen by 25%. This upward trend, coupled with the central exchange’s recent decision to offer support, has ignited optimism in the global market. Previously, CoinGape Media noted that the coin had seen a significant increase following Coinbase’s announcement of trading support for ZKsync.

Contrarily, the price of WELL dropped by 3% today, settling at $0.02965. Its lowest and highest points over the past 24 hours were $0.0286 and $0.03067 respectively. Interestingly, its trading volume increased by 6%, causing some investors to ponder. Some crypto analysts are wondering if the CEX’s addition of support for Moonwell could lead to an increase in WELL’s price in the future.

Additionally, it’s important to note that along with ZKsync, the price of Zetachain (ZETA) has experienced significant growth following Coinbase’s decision to support the project. This trend suggests that increased value for these specific tokens might be on the horizon.

Read More

2024-09-25 21:17