Coinbase Lists DEGEN on 15 October, Triggering a Brief 20% Rally

Leading crypto exchange, Coinbase has announced that it will list Degen (DEGEN) on the Base network on October 15, and after its announcement, the token saw a brief jump of 20%.

Coinbase announced on X, “Coinbase will add support for Degen (DEGEN) on the Base network. Do not send this asset over other networks or your funds may be lost. Transfers for this asset are available on @Coinbase & @CoinbaseExch in the regions where trading is supported.”

Trading will begin on or after 9AM PT on 15 October 2024, if liquidity conditions are met. Once sufficient supply of this asset is established trading on our DEGEN-USD trading pair will launch in phases. Support for DEGEN may be restricted in some supported jurisdictions.

— Coinbase Assets 🛡️ (@CoinbaseAssets) October 14, 2024

The crypto exchange added that trading for DEGEN will begin on or after 9AM PT on 15 October 2024, if liquidity conditions are met. Once sufficient supply of this asset is established, trading on the exchange’s DEGEN-USD trading pair will launch in phases. 

However, Coinbase also warned that support for DEGEN may be restricted in some supported jurisdictions.

The Base network contract address for DEGEN is “0x4ed4e862860..5e1b0efefed”, shared Coinbase.

As soon as the announcement kicked off, DEGEN saw a brief but sharp jump of 20%, and was quoted to reach at US$0.01191. It is currently trading at $0.01117 after a jump of 7% in the past one day. In the past 24 hours, the crypto also witnessed a surge in its market volume which has currently reached $36.35M.

Courtesy: Coinmarketcap

Analysts expect that the trend for DEGEN is getting ready for strong breakout from ascending triangle pattern in LTFs, expecting 70-100% rally from the zone, and volume is rising as good momentum. 

Also Read: Coinbase to Delist USDT & Other Stablecoins in Europe, Here’s Why