CoinInsight360.com logo CoinInsight360.com logo
A company that is changing the way the world mines bitcoin

WallStreet Forex Robot 3.0
CoinGape 2025-01-13 22:36:00

Coinbase Adds PNUT Meme Coin On Solana Network, What’s Next?

Peanut the Squirrel (PNUT), a Solana-based meme coin that emerged in 2024, will join Coinbase platform. Pending liquidity requirements, trading for the PNUT-USD pair is set to commence on January 14, 2025, at 9:00 AM PT. The announcement follows a previous roadmap update in December. Coinbase Confirms Solana-Based PNUT Meme Coin Trading to Begin This Week According to a post on X, formerly Twitter, Coinbase confirmed that Peanut the Squirrel (PNUT) trading will launch on January 14, 2025. The meme coin, built on the Solana network, will have its trading pair PNUT-USD available in phases, depending on liquidity conditions. The exchange noted that token transfers for PNUT are already accessible on Coinbase and Coinbase Exchange. However, trading support for PNUT may be restricted in certain regions, aligning with Coinbase’s regional compliance policies. More so, the top crypto exchange post on X added, “Once sufficient supply of this asset is established trading on our PNUT-USD trading pair will launch in phases.” PNUT Price Gains Momentum but Remains Below Previous Highs PNUT rose by more than 10% in value shortly after the top crypto exchange announcement. Peanut the Squirrel (PNUT) price rallied from $0.48 to $0.59 after it was revealed that it would be listed at Coinbase. This represents a significant rebound after earlier declines, with a 1.98% daily increase in market cap and over 107% growth in trading volume to $431.71M. Despite the uptick, the token remains 79% below its all-time high of $2.47 reached in November 2024. The meme coin surged in popularity following a social media-driven movement, but recent months have seen its value decline amid a broader market downturn. However, the heavy Solana meme coin accumulation has pushed the PNUT price up with analysts eyeing a rally to $1. Notably, PNUT is testing a breakout from its downward trendline, supported by strong whale activity and the Coinbase listing. Legal and Market Challenges Surround PNUT Meme Coin The origin of PNUT is linked to a social media outcry in late 2024. The token was created after New York state regulators seized and euthanized a pet squirrel named Peanut. This event led to the token’s launch and widespread adoption by a community of supporters. PNUT has also faced legal challenges. Mark Longo, the pet squirrel’s owner, filed a lawsuit against Binance . Mark Longo accused the platform of unauthorized usage of his intellectual property to promote the meme coin. The legal proceedings have added a layer of uncertainty to PNUT journey in the crypto market. Notably, the listing enhances PNUT meme coin visibility on one of the largest crypto exchanges. With its recent addition to Coinbase and the ongoing interest from its community, PNUT may experience further volatility in the coming weeks. The post Coinbase Adds PNUT Meme Coin On Solana Network, What’s Next? appeared first on CoinGape .

Leggi la dichiarazione di non responsabilità : Tutti i contenuti forniti nel nostro sito Web, i siti con collegamento ipertestuale, le applicazioni associate, i forum, i blog, gli account dei social media e altre piattaforme ("Sito") sono solo per le vostre informazioni generali, procurati da fonti di terze parti. Non rilasciamo alcuna garanzia di alcun tipo in relazione al nostro contenuto, incluso ma non limitato a accuratezza e aggiornamento. Nessuna parte del contenuto che forniamo costituisce consulenza finanziaria, consulenza legale o qualsiasi altra forma di consulenza intesa per la vostra specifica dipendenza per qualsiasi scopo. Qualsiasi uso o affidamento sui nostri contenuti è esclusivamente a proprio rischio e discrezione. Devi condurre la tua ricerca, rivedere, analizzare e verificare i nostri contenuti prima di fare affidamento su di essi. Il trading è un'attività altamente rischiosa che può portare a perdite importanti, pertanto si prega di consultare il proprio consulente finanziario prima di prendere qualsiasi decisione. Nessun contenuto sul nostro sito è pensato per essere una sollecitazione o un'offerta