The BONK coin, which is part of the Solana ecosystem, has accomplished an incredible thing by being named the biggest Coinbase pump of 2023. Even while Coinbase listings are frequently linked to higher trading volume and publicity, it seems as though the period leading up to the listing may have more positive potential than the listing itself.

BONK had a significant boost during its incredible 18,000% spike when Coinbase revealed that it would be added to the listing roadmap. By mid-December, the coin, which had started as a $20 million community initiative by the end of October, had grown to around $900 million in value and was subject to a 40% correction.

Listings on Coinbase and Market Trends

Analyzing Coinbase’s effect on other cryptocurrencies mentioned in 2023 in more detail reveals some intriguing trends. All 15 of the listed cryptocurrencies had price gains between the confirmation of listing and the actual listing, except the Ripple-centric smart contract network flare (FLR), which saw no change in price.

Only twice did the market leader, Bitcoin, rise by more than 2% alongside the recently listed cryptocurrencies, indicating that there is little short-term link between the price of Bitcoin and the cryptocurrencies published on Coinbase.

While noteworthy, BONK’s pre-listing spike was eclipsed by DIMO, a little-known cryptocurrency that is used to compensate drivers for sharing their data. On April 17, two hours after Coinbase confirmed its listing, DIMO’s value doubled.

The information suggests that there is a relationship between price hikes and Coinbase’s notifications on X regarding new listings; however, this relationship may not hold for the listings themselves.

Performance Following Listing and Long-Term Patterns

Although BONK set a record with its 128% gain in just 14 hours after being live on Coinbase, its future performance in the next weeks is still unknown. According to historical data, the immediate price impact of Coinbase listings may eventually become less significant, with reductions occurring in about half of the listed assets, many of which by more than 50%.

Contrary to the trend, some assets, such as Celestia (TIA) and helium (HNT), have seen significant increases of up to 400% since being listed. It is important to take into account the backdrop of these listings amid comparatively positive market conditions since listings during weak markets could have different outcomes.

Finally, the dynamics of Coinbase listings highlight the intricacy of the cryptocurrency industry, where pre-listing excitement and quick profits may not always convert into long-term success. The effect of exchange listings on the values of digital assets will fluctuate as the market does.