Coinbase Boosts ETHFI: Token Surges 8% on Major Exchange Listing

Coinbase, a leading cryptocurrency exchange, has announced its support for ETHFI (ETHFI), an Ethereum-based token, on its spot trading platform. The latest update on the cryptocurrency's market value places ETHFI at $1.18.

Following the news of Coinbase's listing, ETHFI experienced a brief surge of over 8%, temporarily trading at $1.223. This short-term increase may be attributed to the positive sentiment surrounding the listing on a major exchange like Coinbase.

Coinbase will begin supporting ETHFI on the Ethereum network (ERC-20 token) on February 6, 2025, at 9 a.m. (Pacific Time) or later, provided that liquidity conditions are met. The ETHFI-USD trading pair will be launched in phases once there is sufficient supply of the asset.

The listing of ETHFI on Coinbase's spot trading platform is expected to increase the token's visibility and accessibility to a broader range of investors. As a result, this could potentially lead to further growth and adoption of the ETHFI token.