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It is well known that listings and delistings by cryptocurrency exchanges can have significant effects on prices. One such instance occurred recently involving Binance and Toncoin (TON). TON’s price surged by over 40% within minutes, capturing the entire market’s attention. Following the midday events, Coinbase also made a move, announcing the initiation of futures trading for three different cryptocurrency pairs.
Coinbase Lists New Altcoins
Coinbase, one of the world’s largest exchanges by volume, is known for the significant impacts its listings can create. In this context, a recent announcement by the exchange has turned all eyes to three different altcoins.
The announcement regarding the three altcoins for which futures trading will be initiated is as follows:
CoinbaseIntExch, Coinbase International Exchange, and Coinbase Advanced will add support for perpetual futures trading of Degen, EOS, and SATS. The DEGEN-PERP, EOS-PERP, and 1000STATS-PERP markets will open at or after 9:30 UTC on 15 AUG 2024. #DEGEN #EOS #SATS
Following this announcement by Coinbase, the market’s attention turned to these three altcoins amid a bullish market outlook.
DEGEN, EOS, 1000SATS Price Updates
Charts reflected an increase in all three cryptocurrencies, with a bullish dominance in the market. Firstly, DEGEN saw its price rise by over 30% in the last 24 hours, reaching $0.004154. This surge also increased its market cap to $58 million.
Secondly, examining 1000SATS, the price increased by 15%, trading at $0.0002528. 1000SATS’s market cap exceeded $530 million, while its trading volume fell by 13.5% to $144.8 million.
Lastly, EOS experienced a relatively weaker increase of 7%, trading at $0.479.
Overall, Coinbase listings are known to trigger significant price movements due to their volume impact. Monitoring the price movements following the initiation of trades will be beneficial for investors.
