Coinbase, the third largest center of the crypto currency market, announced that it lists Popcat (Popcat) and Pudgy Penguins (Pengu) tokens on the Solana (left) network. This development led to a sharp rise in the price of both breast coins, while double -digit gains were achieved. Here are the details…
Popcat and Pengu operations start on coinbase
According to Coinbase, spot operations for Popcat and Pengu will begin on February 13th. The stock market will gradually activate the Popcat-USD and Pengu-USD trading pairs. Prior to this, the futures versions of these token will be activated on Coinbase International Exchange and Coinbase Advanced platforms. The stock market will open the Pengu-Perp and Popcat-Perp markets after 12:30 on the same day.
This listing came after Coinbase recently added Popcat and Pengu to the roadmap with Morpho (Morpho). Although Morpho’s listing has not yet been finalized, the announcement for Popcat and Pengu caused a significant rise in prices.
Popcat and Pengu Prices Big Movement
Popcat recorded the biggest rise among the two tokens and the price increased by more than 25 %. This ascension was particularly remarkable because the breast coin has been in a decline trend since November. In the last week, he gained more than 46 %of signs of recovery and was traded for $ 0.33 at the time of writing. Pengu has gained more than 12 %value in the last 24 hours. This ascension gave an important recovery signal, considering the decline of Token’s lowest level last week. The price is traded 18 %higher than the lowest level, while weekly losses are still 7.8 %. In addition, he lost 65 %during the last month. As of the news, the price of Pengu was 0.01 dollars.
These harsh rises point to the phenomenon known as the “Coinbase Effect” in the market. Coinbase’s listing a token usually causes prices to rise rapidly. This is due to increasing visibility, liquidity and investor interest. However, it is not yet clear whether these price movements are sustainable. With the start of the transactions, the strategy of investors will determine whether the breast coins can protect their earnings.
