Altcoin

Coinbase Reveals Major Support For MEW, JASMY, & MEME

Published

5 months ago

August 1, 2024

The leading global cryptocurrency exchange Coinbase has recently announced its support for three cryptocurrencies: cats in a dogs world (MEW), JasmyCoin (JASMY), and Memecoin (MEME). This announcement has received immense traction from the market participants and is set to bolster market sentiment. With the exchange listing perpetual futures for these cryptocurrencies starting August 8, 2024, anticipations are high over a potential recovery.

Coinbase Add Support For MEW, JASMY, and MEME

Coinbase’s decision to back MEW, JASMY, and MEME is a strategic one, aimed at expanding its offerings and attracting more traders. According to the announcement, the exchange will introduce perpetual future listings for these cryptocurrencies, including two meme coins. The new markets, MEW-PERP, MEME-PERP, and JASMY-PERP, will open on or after 9:30 AM UTC on August 8, 2024.

Meanwhile, the phrase in the announcement “Feeling like a cat in a dog’s world?” encapsulates the launch of MEW, highlighting its unique position in the crypto market. MEW represents cats in a dogs world, a token that has intrigued investors with its distinctive branding and potential for growth.

The crypto exchange’s support for this leading meme coin underscores the platform’s commitment to diversifying its crypto offerings. On the other hand, JasmyCoin (JASMY), another supported cryptocurrency, has been on the radar of many investors.

Known for its focus on data democratization and user privacy, JASMY has garnered significant attention. Coinbase’s backing is expected to enhance JASMY’s visibility and trading volume, potentially driving up its market value.

Meanwhile, Memecoin (MEME), a token that has captured the playful and speculative side of the cryptocurrency market, also receives the exchange’s support. MEME’s inclusion in one of the top crypto exchanges’ offerings reflects the exchange’s recognition of the token’s popularity and its potential to engage a broad audience of traders and investors.

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A Closer Look At The Crypto Performances

The announcement has fueled speculations about a potential recovery in crypto prices. Positive announcements, such as new listings, typically bolster market sentiment. Conversely, negative news can impact prices adversely.

However, Coinbase’s support for these cryptocurrencies comes at a time when the crypto market is experiencing volatility. The introduction of perpetual futures for MEW, JASMY, and MEME offers traders new opportunities to engage with these assets. Perpetual futures allow traders to speculate on the price movements of these cryptocurrencies without owning the underlying assets, providing a flexible and dynamic trading option.

Meanwhile, despite the recent positive announcement, all three cryptos were in the red today. During writing, MEW price was down around 19% to $0.005811, with its trading volume soaring around 6% to $107.29 million.

On the other hand, JASMY price fell about 11% to $0.02666, while MEME price also noted a similar percentage drop and exchanged hands at $0.01277. The trading volume of MEME rose 8% over the last 24 hours to $38.23 million.