Coinbase adds BIO and EUL to roadmap, sparks 17% surge in BIO, 3.5% in EUL

Coinbase has added Bio Protocol (BIO) and Euler (EUL) to its asset roadmap, signaling potential future listings on the platform. The announcement, made via a July 29 X post, triggered immediate price movements: BIO surged nearly 17% before retreating to a slight decline, while EUL rose approximately 3.5%. Both tokens, already traded on major exchanges like Binance and Kraken, may see limited long-term impact from a Coinbase listing due to their existing liquidity [1].

BIO powers the decentralized science (DeSci) ecosystem BioDAOs, enabling community-governed biotech research and intellectual property tokenization. EUL, the governance token for Euler Finance, facilitates lending and borrowing on Ethereum, including niche crypto assets. Despite their distinct use cases, both tokens face competition from established listings on platforms such as OKX and MEXC, which could temper Coinbase-driven demand [1].

The so-called “Coinbase effect”—short-term price rallies following announcements—has historically driven volatility. For example, Newton Protocol’s NEWT token plummeted 44% post-listing as investors liquidated airdropped tokens, while Venice AI’s VVV token crashed after allegations of pre-listing sales. These cases highlight the risks of transient optimism and market saturation. Analysts note that while Coinbase’s institutional credibility and user base often boost listings, outcomes depend on factors like market conditions, token supply, and investor sentiment [1].

Coinbase’s asset roadmap, however, does not guarantee final listings. The platform emphasizes that inclusion merely indicates ongoing evaluation. This uncertainty underscores the importance of due diligence for investors, as past listings have shown mixed results. For instance, tokens with limited pre-existing liquidity often experience sharper rallies, whereas established assets like BIO and EUL may see muted reactions.

The addition of BIO and EUL aligns with Coinbase’s broader strategy to diversify its crypto offerings, reflecting growing interest in DeSci and DeFi innovations. Yet, their current availability on multiple exchanges suggests that a Coinbase listing may not significantly alter their trajectories. Traders should remain cautious, considering historical precedents where initial gains failed to sustain long-term momentum.

Source: [1] Coinbase adds BIO and EUL to its asset roadmap, how are these tokens performing? (https://coinmarketcap.com/community/articles/68889dc924f71e06f6ae539f/)