Coinbase effect and strong fundamentals send Polygon (MATIC) and Skale higher

In previous bull markets, one of the most consistent price movers for cryptocurrency projects was being listed on Coinbase, a phenomenon that became known as the ‘Coinbase effect’.

The recent announcement that Polygon (MATIC), SKALE (SKL) and SushiSwap (SUSHI) would be added to the exchange and begin trading on March 11 has proven that the Coinbase effect remains potent as the tokens witnessed record trading volume and double-digit price movements since the listing took place.

MATIC/USDT vs. SKL/USDT vs. SUSHI/USDT 4-hour chart. Source: TradingView
SKL/USDT 4-hour chart. Source: TradingView
MATIC/USDT 4-hour chart. Source: TradingView
VORTECS™ Score (green) vs. MATIC price. Source: Cointelegraph Markets Pro
SUSHI/USDT 4-hour chart. Source: TradingView