The main world cryptocurrency alternate Coinbase has not too long ago introduced its assist for 3 cryptocurrencies: cats in a canine world (MEW), JasmyCoin (JASMY), and Memecoin (MEME). This announcement has acquired immense traction from the market individuals and is about to bolster market sentiment. With the alternate itemizing perpetual futures for these cryptocurrencies beginning August 8, 2024, anticipations are excessive over a possible restoration.
Coinbase Add Support For MEW, JASMY, and MEME
Coinbase’s choice to again MEW, JASMY, and MEME is a strategic one, aimed toward increasing its choices and attracting extra merchants. According to the announcement, the alternate will introduce perpetual future listings for these cryptocurrencies, together with two meme coins. The new markets, MEW-PERP, MEME-PERP, and JASMY-PERP, will open on or after 9:30 AM UTC on August 8, 2024.
Meanwhile, the phrase within the announcement “Feeling like a cat in a dog’s world?” encapsulates the launch of MEW, highlighting its distinctive place within the crypto market. MEW represents cats in a canine world, a token that has intrigued buyers with its distinctive branding and potential for progress.
The crypto exchange’s assist for this main meme coin underscores the platform’s dedication to diversifying its crypto choices. On the opposite hand, JasmyCoin (JASMY), one other supported cryptocurrency, has been on the radar of many buyers.
Known for its deal with knowledge democratization and consumer privateness, JASMY has garnered vital consideration. Coinbase’s backing is anticipated to reinforce JASMY’s visibility and buying and selling quantity, doubtlessly driving up its market worth.
Meanwhile, Memecoin (MEME), a token that has captured the playful and speculative facet of the cryptocurrency market, additionally receives the alternate’s assist. MEME’s inclusion in one of many top crypto exchanges’ choices displays the alternate’s recognition of the token’s reputation and its potential to have interaction a broad viewers of merchants and buyers.
Also Read: Elon Musk Faces Legal Hurdles Amid X’s Content Deal Cancelation
A Closer Look At The Crypto Performances
The announcement has fueled speculations a couple of potential restoration in crypto costs. Positive bulletins, corresponding to new listings, usually bolster market sentiment. Conversely, unfavourable information can impression costs adversely.
However, Coinbase’s assist for these cryptocurrencies comes at a time when the crypto market is experiencing volatility. The introduction of perpetual futures for MEW, JASMY, and MEME provides merchants new alternatives to have interaction with these property. Perpetual futures permit merchants to take a position on the worth actions of those cryptocurrencies with out proudly owning the underlying property, offering a versatile and dynamic buying and selling possibility.
Meanwhile, regardless of the latest constructive announcement, all three cryptos have been within the crimson at present. During writing, MEW value was down round 19% to $0.005811, with its buying and selling quantity hovering round 6% to $107.29 million.
On the opposite hand, JASMY value fell about 11% to $0.02666, whereas MEME value additionally famous an analogous share drop and exchanged fingers at $0.01277. The buying and selling quantity of MEME rose 8% during the last 24 hours to $38.23 million.
Also Read: Donald Trump Bitcoin NFT Sneakers Officially Sold Out
Rupam Roy
Rupam, a seasoned skilled with 3 years within the monetary market, has honed his abilities as a meticulous analysis analyst and insightful journalist. He finds pleasure in exploring the dynamic nuances of the monetary panorama. Currently working as a sub-editor at Coingape, Rupam’s experience goes past typical boundaries. His contributions embody breaking tales, delving into AI-related developments, offering real-time crypto market updates, and presenting insightful financial information. Rupam’s journey is marked by a ardour for unraveling the intricacies of finance and delivering impactful tales that resonate with a various viewers.
Disclaimer: The introduced content material might embrace the non-public opinion of the creator and is topic to market situation. Do your market analysis earlier than investing in cryptocurrencies. The creator or the publication doesn’t maintain any duty to your private monetary loss.
