Coinbase has announced its support for three cryptocurrencies: MEW, JASMY, and MEME. The exchange will list perpetual futures for these coins starting August 8, 2024. This news has generated significant interest in the market and is expected to boost market sentiment.
Despite the announcement, MEW, JASMY, and MEME have seen price drops recently. There is hope that the new listings could lead to a recovery in their prices.
Coinbase Expands Offerings with Support for MEW, JASMY, and MEME
Coinbase’s decision to support MEW, JASMY, and MEME reflects its strategy to broaden its cryptocurrency offerings and attract more traders. The exchange will introduce perpetual futures listings for these cryptocurrencies, including two meme coins. The new markets, MEW-PERP, MEME-PERP, and JASMY-PERP, are set to open on or after 9:30 AM UTC on August 8, 2024.
The announcement features the phrase “Feeling like a cat in a dog’s world?” to highlight MEW’s unique position in the crypto market. MEW, representing “cats in a dog’s world,” has intrigued investors with its distinctive branding and growth potential.
Coinbase’s support for MEW underscores its commitment to diversifying its crypto offerings. JasmyCoin (JASMY), known for its focus on data democratization and user privacy, has also garnered significant attention. Coinbase’s backing is expected to boost JASMY’s visibility and trading volume, potentially increasing its market value.
Memecoin (MEME), which appeals to the playful and speculative side of the market, also receives support from Coinbase. MEME’s inclusion on a major exchange highlights its popularity and potential to attract a broad audience of traders and investors.
Coinbase Announcement Sparks Speculation Amid Market Volatility
The recent announcement of Coinbase’s support for MEW, JASMY, and MEME has sparked speculation about a potential recovery in crypto prices. Positive news, like new listings, often boosts market sentiment, while negative news can have the opposite effect.
Despite the optimistic announcement, the crypto market is currently experiencing volatility. The introduction of perpetual futures for MEW, JASMY, and MEME offers traders new opportunities to speculate on the price movements of these cryptocurrencies without owning the underlying assets. This trading option provides flexibility and dynamism.
However, all three cryptocurrencies were down today despite the positive news. MEW saw a price drop of around 19%, falling to $0.005811, although its trading volume increased by about 6% to $107.29 million. JASMY’s price fell approximately 11% to $0.02666, while MEME also experienced a similar percentage drop, trading at $0.01277. MEME’s trading volume rose by 8% over the last 24 hours, reaching $38.23 million.
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
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