Major cryptocurrency exchange Coinbase (NASDAQ:COIN) has expanded its platform with the addition of three new cryptoassets: Magic Eden (ME), Turbo (TURBO) and Gigachad (GIGA). These listings highlight Coinbase’s focus on improving its offerings on the Ethereum and Solana networks, to meet the changing needs of its user base.
New ads: Magic Eden (ME), Turbo (TURBO) and Gigachad (GIGA)
Coinbase’s latest move introduces Magic Eden (ME), the native token for the NFT marketplace on the Solana blockchain. Labeled “Experimental”, ME is now available on Coinbase’s web platform, iOS and Android apps. Users can buy, sell, convert, send, receive or store the asset. This addition reflects Coinbase’s commitment to supporting innovative blockchain projects.
Turbo (TURBO), an ERC-20 token on the Ethereum network, also joins Coinbase’s lineup. Marketed as the first meme coin created entirely with artificial intelligence, Turbo’s listing is expected to increase its visibility and attract a larger audience. The token has already seen a positive market reaction, with its price rising nearly 37% to $0.01315 after the announcement.
In addition, Gigachad (GIGA), an SPL token from the Solana blockchain, is now supported by Coinbase. Inspired by the “Giga Chad” meme, the token aims to dominate the meme coin space within the crypto community. GIGA’s price jumped 38% to $0.0733 on news of the listing, signaling strong market interest.
Trading for TURBO and GIGA is set to begin on or after 09:00 AM PT on December 11, 2024, subject to liquidity conditions.
Broader implications for Ethereum and Solana networks
The addition of these assets underscores Coinbase’s strategic focus on Ethereum and the Solana ecosystem. Solana’s NFT capabilities, represented by Magic Eden, and Ethereum’s robust smart contract platform, highlighted by Turbo, reflect the various use cases in the crypto space.
These lists also signify the growing attraction of meme coins like Turbo and Gigachad. By offering tokens rooted in community-driven narratives, Coinbase attracts both seasoned investors and casual crypto-enthusiasts.
Coinbase’s latest expansions
The latest listings follow a series of strategic moves by Coinbase. In the past week, the exchange has added MOG Coin (MOG) and Moo Deng (MOODENG) to its platform. Both assets are available for trading, further broadening Coinbase’s diverse portfolio.
Coinbase’s support for these experimental and meme-driven assets highlights its effort to stay ahead of the competitive crypto exchange market. By introducing innovative tokens with unique value propositions, Coin base strengthens its position as a leading platform for trading digital assets.
Market Reactions and Outlook
The market response to these listings has been overwhelmingly positive. Turbo (TURBO) and Gigachad (GIGA) both saw significant price increases, reflecting increased investor interest. Magic Eden (ME), as an established NFT marketplace token, also benefits from increased availability and liquidity.
Coinbase’s focus on the Ethereum and Solana networks positions it to take advantage of the growth of decentralized finance (DeFi) and NFTs. With its robust infrastructure and user-friendly platform, Coinbase continues to attract new users and improve its appeal to the wider crypto community.
Support innovation in the crypto space
Coinbase’s addition of Magic Eden (ME), Turbo (TURBO), and Gigachad (GIGA) demonstrates its commitment to supporting innovation in the crypto space. Focusing on the Ethereum and Solana networks, the platform caters to various user interests, from NFTs to meme coins.
As the crypto market evolves, Coinbase’s proactive approach to asset listings ensures it remains a top destination for trading digital assets. With trading for TURBO and GIGA set to begin soon, investors and enthusiasts alike can look forward to new opportunities in the crypto ecosystem.
In addition, Chainlink, the leading standard for on-chain financing, announced today that Coinbase’s Project Diamond, an interoperable digital asset platform designed for global institutions, will integrate Chainlink’s infrastructure to enable full lifecycle management of tokenized assets.
Featured image: Freepik
