Coinbase Global has announced a new listing of an altcoin, enabling futures trading. However, investors are being advised about the significant risks involved in this process.
Coinbase Altcoin Listing
According to the announcement from Coinbase Global, a new altcoin will be launched in futures trading. Prior to the launch, MagicEden (ME) trading will be activated on Coinbase International Exchange and Coinbase Advanced. The announced date for the futures contracts for ME Token is November 20.
Risks of Pre-Launch Listings
The announcement emphasizes that pre-launch listings are significantly riskier and warns investors accordingly.
Role of MagicEden in the Market
MagicEden, the NFT marketplace, was highly preferred during the early days of Solana. Now, with the increase in NFT volumes, the team believes it is the right time for the launch.
Coinbase has taken steps towards a new altcoin listing, but investors should carefully assess the risks involved in pre-launch trading. MagicEden and the evolving NFT market play an essential role in this initiative.
