Coinbase Adds AI-Focused Allora (ALLO) to US Altcoin Listings
Coinbase, the largest U.S. cryptocurrency exchange by volume, has announced the imminent listing of Allora (ALLO) pending liquidity requirements. ALLO, built on the Ethereum network, will be available through an ALLO-USD trading pair activated in phases. The token has a fully diluted valuation of $600 million, a market capitalization of $120 million and a maximum supply of 1 billion. Investors are advised to verify the contract address (0x8408D45b61f5823298F19a09B53b7339c0280489) to avoid fake tokens on decentralized exchanges. Allora aims to break industry data silos by creating an open network that integrates diverse datasets, algorithms and computing power for AI and machine learning. This move underscores Coinbase’s strategy to expand volatile altcoin offerings and diversify options for U.S. traders.
Bullish
Coinbase’s decision to list Allora (ALLO) is likely bullish for both the token and broader altcoin market. Historically, new listings on major exchanges spark short-term price spikes and increased trading volume due to heightened visibility and easier access. Allora’s AI-focused use case may attract speculative capital and long-term investors interested in decentralized data networks. In the short term, we can expect volatility as traders react to the listing phases and liquidity thresholds. Over the long term, Coinbase’s continued expansion of altcoin offerings could reinforce its role in supporting emerging projects, driving sustained interest and potentially improving market depth. Similar events, such as earlier Coinbase listings of AI-related tokens, have led to extended rallies and higher adoption rates.