Coinbase, the leading digital currency exchange in the U.S., has announced the listing of three new altcoins. This coincides with the inauguration of a new U.S. president who supports cryptocurrency.
What Are the New Altcoins?
Coinbase is moving forward with altcoin listings in both spot and futures markets. With 90% of previously evaluated tokens in spot listings being eliminated, these new listings could significantly boost trader confidence.
How Will This Impact Market Values?
The new listings are scheduled for launch on January 23 at 09:30 (UTC). The introduction of AIXBT, PNUT, and VET has led AIXBT's market value to jump by 5%, indicating positive initial reception. The meme-inspired coin PNUT, which gained attention following its mascot's unfortunate demise, is currently trading at $0.625. Its price surged 23-fold at its debut on Binance in November but has since decreased by 75% from its all-time high. Meanwhile, VET, an established player in the market, experienced a noteworthy 20% increase in just three days.
Significance for the Cryptocurrency Market
The latest listings by Coinbase signal a dynamic period ahead for altcoins, particularly as the new administration adopts its stance on the cryptocurrency industry. Traders and enthusiasts will keenly observe market reactions in the coming days.
Coinbase's new altcoin listings open up opportunities for deepening trader confidence in the cryptocurrency market. With political support and new initiatives, the future of cryptocurrency looks promising.
