Why Are Shiba Inu And Chiliz Cryptocurrencies Surging Today?

Chiliz (CHZ) and Shiba Inu (SHIB) soared on Tuesday after Coinbase Global Inc’s COIN Pro platform announced trading of the coins will commence this week.

What Happened: SHIB shot up 22.44% at press time over 24 hours to $0.000008732, while CHZ spiked 12.74% to $0.32.

Against Bitcoin (BTC) and Ethereum (ETH), SHIB was up 24.34% and 26.89% over a 24-hour period. CHZ gained 14.49% and 16.84% against BTC and ETH in the same period.

See Also: How To Buy Shiba Inu (SHIB)

On a seven-day trailing basis, SHIB and CHZ each rose 22.32% and 38.36%, respectively.

BTC traded 1.53% lower at $39,983.07, while ETH was down 3.31% at $2,516.90 over 24 hours.

On Tuesday, Coinbase said inbound transfers of CHZ and SHIB are available in regions where trading is supported. Trading will begin on Thursday, as per the exchange platform.

Inbound transfers for CHZ, KEEP & SHIB are now available in the regions where trading is supported. Traders cannot place orders and no orders will be filled. Trading will begin on or after 9AM PT on Thurs 6/17, if liquidity conditions are met. https://t.co/r2L6N477Uj

— Coinbase Pro (@CoinbasePro) June 15, 2021

Why It Matters: SHIB styles itself as a so-called Dogecoin (DOGE) killer, while CHZ is the token of sports tokenization project.

See Also: Here's How Shiba Inu (SHIB) Rally Is Different From Dogecoin

SHIB and CHZ trading will not be available to New York residents and in Singapore, as per the exchange’s announcement. 

On Monday, Coinbase Po had announced support for Polkadot (DOT). Amp (AMP) was listed on the exchange last week and has shot up 91.88% over a seven-day trailing period.

See Also: Amp, Chiliz (CHZ) Cryptos Make Major Strides As Bitcoin, Ethereum, Dogecoin Struggle

AMP was the top gainer on CoinMarketCap charts on Tuesday night as it traded 23.06% higher over 24 hours at $0.096.