Coinbase Sparks 8% Price Surge for Aethir as DePIN Market Faces Uncertainty
In a surprising move, Coinbase has decided to list Aethir, the innovative "GPU-as-a-service" platform, causing a significant 8% spike in the value of its ATH token. While the DePIN industry has been relatively stable, broader market trends are pointing towards a bearish outlook.
Previously overlooked by Coinbase in June 2024, the ATH token has experienced two peaks and subsequent crashes since then. Aethir's price has remained stagnant for over a month, posing a challenge for building strong momentum in the current market climate.
Amid this period of stagnation, Aethir has maintained a low profile with a few strategic partnerships. However, with Coinbase's recent announcement of listing Aethir's ATH token on the Ethereum network, a newfound optimism has surged through the community.
"Coinbase will soon support trading for Aethir (ATH) on the Ethereum (ERC-20 token) network. The trading is set to commence on or after 9AM PT on 13 March, 2025, subject to meeting liquidity requirements. Initial trading will focus on ATH-USD pair, launching gradually as supply stabilizes," the exchange shared on social media.
While Coinbase may have been slow to embrace Aethir compared to other exchanges, the exponential growth of DePIN revenues in 2024 and the continued industry advancements in 2025 suggest a more favorable climate now.
The renowned "Coinbase Effect" is expected to propel ATH token to new heights following its listing, as evidenced by the immediate 8% surge post-announcement. With Aethir facing a protracted period of price stagnation, a positive upswing in market sentiment could pave the way for renewed growth.
Despite Coinbase's support, Aethir still faces challenges ahead. Past instances where the token's listing was declined resulting in brief spikes and subsequent downturns serve as cautionary tales. However, with concerted efforts and fresh interest, a potential rebound for Aethir is not beyond reach.
Charting a promising yet uncertain path, Aethir navigates the dynamic DePIN landscape with Coinbase's backing aiming to reinvigorate its journey towards sustainable growth.