- Degen surged over 160% in just 24 hours following Coinbase’s announcement to support trading for the Base token.
- io.net token will also be available on Coinbase, but its value declined due to a broader market downturn influenced by geopolitical tensions.
Degen (DEGEN) experienced a significant increase after the US cryptocurrency exchange Coinbase declared that DEGEN was being added to its listing roadmap.
According to market statistics from CoinGecko, DEGEN skyrocketed from a low of $0.004 to approximately $0.012 following this announcement. In terms of gains over a 24-hour period, the meme coin’s value jumped by more than 160%, bringing it to levels not seen since June of this year.
DEGEN To Be Listed on Coinbase
Degen, which serves as a community token and blockchain for the decentralized social platform Farcaster, will soon be available for spot trading on Coinbase.
GM Degens! Big news—$DEGEN will be listed on Coinbase Spot trading, marking it as the 4th @base token. This journey has been incredible, and we have much more to accomplish. Huge thanks to the Degen and Base community for their continuous support. Let’s keep advancing! https://t.co/m9j1FcTYMs
— Degen 🎩 (@degentokenbase) October 1, 2024
Coinbase first announced its listing roadmap in July 2022, aiming for transparency in the process. This initiative is also intended to avoid front-running, as only assets designated for listing by Coinbase will be included on the roadmap.
Degen was created as a reward initiative for the Farcaster community.
While it gained traction as a meme coin, the project is attracting renewed interest thanks to escalating developer engagement and content creation.
The DEGEN token is currently available on platforms such as OKX, Bybit, KuCoin, and Gate.io, among others. Its price has surged by over 330% in the last 30 days. Nevertheless, it is still far below its all-time high of over $0.064 reached in March 2024.
Coinbase to Include io.net as Well
io.net (IO) is another token that Coinbase is set to support with its addition to the listing roadmap. However, while DEGEN saw a sharp rise, IO’s value fell alongside other cryptocurrencies due to the uncertainty surrounding geopolitical events in the Middle East.
The io.net serves as a decentralized AI computing platform built on the Solana blockchain.
While the IO price has slipped by 14% in the last 24 hours, it has shown positive momentum after climbing over the past month. Presently, its value is more than 25% above where it was 30 days ago, with the majority of that growth occurring in late September after io.net entered into a partnership with Phala Network.
Currently, IO’s price is around $1.78.
