In a significant development for the cryptocurrency market, Coinbase, the leading digital currency exchange in the U.S., has announced the upcoming listing of three altcoins. This news arrives as Donald Trump prepares to assume the presidency, marking a new chapter for cryptocurrency advocacy in the U.S. Trump is anticipated to be the first president to openly support the digital currency sector when he officially takes office on Monday.
What Are the New Altcoins?
Coinbase is proceeding with listings in both spot and futures markets, aiming to leverage rising trading volumes. With a staggering 90% of tokens previously evaluated in spot market listings being eliminated, these new listings may bolster trader confidence significantly.
How Will This Impact Market Values?
Scheduled for launch on January 23 at 09:30 (UTC), the new entries include AIXBT, PNUT, and VET. Following the announcement, AIXBT’s market value jumped by 5%, indicating positive initial reception.
The meme-inspired coin PNUT, which gained traction after its mascot’s unfortunate demise, currently trades at $0.625. Its price surged 23-fold when it debuted on Binance in November, though it has since decreased by 75% from its all-time high. Meanwhile, VET, an established player in the market, has experienced a notable 20% increase in just three days.
– Coinbase’s new altcoin listings could encourage greater trader confidence.
– AIXBT’s price rise of 5% post-announcement shows immediate market interest.
– PNUT’s dramatic price fluctuations highlight the volatility of meme coins.
– VET’s 20% increase emphasizes trading potential in established cryptocurrencies.
The latest listings by Coinbase signal a vibrant period ahead for altcoins, especially as the new administration takes its stance on the cryptocurrency industry. With ongoing developments, traders and enthusiasts will be keenly observing market reactions in the coming days.
