- As the cryptocurrency market continues to experience volatility, exchanges keep updating their listings to attract more investors.
- Leading crypto exchange Coinbase has announced the listing of an unexpected altcoin on its spot market.
- In addition, Coinbase revealed plans to add two more tokens to its futures market, expanding its trading offerings.
Discover the latest token listing by Coinbase and its impact on the cryptocurrency market.
Coinbase Adds PIRATE to Its Listing: Token Skyrockets!
Following a brief resurgence spurred by positive US CPI figures, the crypto market faced downward pressure from a hawkish Federal Reserve. Bitcoin, after hitting 70,000 USD, experienced a decline below 67,000 USD. In parallel, many altcoins mirrored Bitcoin’s trajectory. In this context, exchanges are continually enhancing their listings to improve the user experience. Notably, the prominent crypto exchange Coinbase has announced the addition of the altcoin PIRATE to its listings, albeit with an ‘experimental’ tag. Coinbase shared the news on their official X account, cautioning users about potential risks.
Coinbase will add support for Pirate Nation (PIRATE) on the Ethereum network (ERC-20 token). Do not send this asset over other networks or your funds may be lost. Transfers for this asset are available on Coinbase and CoinbaseExch in the regions where trading is supported.
In response to the announcement, the price of PIRATE experienced a significant surge. The token, which had dropped to $0.142 earlier in the day, skyrocketed to $0.2533. Although it later retraced some of its gains, it continued to trade at elevated levels. At the time of writing, PIRATE was trading at $0.2241, marking a daily increase of over 67%.
Coinbase Expands Futures Market with BOME and NOT Listings
Coinbase has also announced the listing of BOME and NOT on its International Exchange’s futures market. This move resulted in a modest increase in the prices of both tokens, although the gains were short-lived. The crypto exchange specified that Coinbase International and Coinbase Advanced would support the perpetual futures for Book of Meme (BOME) and Notcoin (NOT). The new BOME-PERP and NOT-PERP markets are set to open on June 20, 2024, at 12:30 PM UTC. Coinbase made the following announcement:
Coinbase International Exchange will add support for BOOK OF MEME and Notcoin perpetual futures on Coinbase International and Coinbase Advanced. The opening of our BOME-PERP and NOT-PERP markets will begin on or after 9:30 AM UTC on June 20, 2024.
This strategic move is seen as part of Coinbase’s ongoing efforts to expand its altcoin futures offerings on Coinbase International.
Conclusion
In summary, Coinbase’s recent announcements regarding the listing of PIRATE in its spot market and the addition of BOME and NOT to its futures market highlight the exchange’s commitment to enhancing its trading platform. Despite the current market volatility, these listings aim to provide traders with new opportunities and diversify their investment strategies. As always, investors should stay informed and exercise caution in the ever-evolving cryptocurrency landscape.
