Key Notes

Key Notes:

Coinbase has enabled transfers for POPCAT and PENGU on its platform, with trading set to begin based on liquidity availability.Perpetual futures trading for POPCAT and PENGU is now active on Coinbase International Exchange and Coinbase Advanced.Following the announcement, POPCAT’s price surged over 20%, while PENGU recorded a 7% increase, with significant trading volume growth.

Coinbase has announced support for Popcat POPCAT $0.27 24h volatility: 7.3% Market cap: $261.82 M Vol. 24h: $45.69 M and Pudgy Penguins PENGU $0.00928 24h volatility: 10.8% Market cap: $582.12 M Vol. 24h: $87.14 M , two tokens built on the Solana blockchain. The exchange stated that both tokens will be available for transfers. In a post shared on X, the exchange informed users that trading is scheduled to begin on February 13, 2025, at 9 AM PT or later, but only if there is enough liquidity. Trading support will also be available for POPCAT-USD and PENGU-USD pairs, which will gradually open in different phases. The exchange wrote:

“Trading will begin on or after 9AM PT on 13 February 2025 if liquidity conditions are met. Once sufficient supply of this asset is established trading on our POPCAT-USD and PENGU-USD trading pairs will launch in phases.”

Users are warned to send the assets only through Solana, as transfers made through other blockchains could result in loss of funds. The exchange also clarified that trading for POPCAT and PENGU may be restricted in some regions.

The support announcement has sent a positive signal to many users. A crypto commentator reacted to the listing following the surge of the two tokens, noting that the Coinbase effect is real and that the Solana ecosystem continues to grow.

POPCAT and PENGU have both seen a surge in their prices following Coinbase’s support. POPCAT’s price has increased by more than 20% in the last 24 hours. Additionally, its trading volume has surged by 140% within the same timeframe, showing high interest in the token.

Similarly, PENGU has risen by over 7% in the past 24 hours, while its trading volume has surged by more than 120% within the same timeframe.

Typically, support from major exchanges provides exposure, liquidity, and trust for tokens. Their backing attracts investors, increases trading volume, and signals legitimacy. It also often leads to greater adoption and integration within the crypto ecosystem, making tokens more accessible and appealing to a broader audience, ultimately enhancing their market presence and credibility.

In a separate announcement, Coinbase confirmed that perpetual futures trading is now live for PENGU and POPCAT on Coinbase International Exchange and Coinbase Advanced after a temporary pause. The exchange wrote:

“Our PENGU-PERP, POPCAT-PERP, and HNT-PERP markets are now in full-trading mode on Coinbase International Exchange and Coinbase Advanced. Limit, market, stop, and stop limit orders are all now available. “

PENGU made its debut in mid-December 2024 as the token linked to the well-known Pudgy Penguins NFT collection. It launched with a total supply exceeding 88 billion. On February 5, the team behind the token revealed that 13.69% of the total PENGU supply, equal to 12,164,667,616 tokens, had been burned following the claim period’s conclusion.

Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.

Temitope is a writer with more than four years of experience writing across various niches. He has a special interest in the fintech and blockchain spaces and enjoy writing articles in those areas. He holds bachelor’s and master’s degrees in linguistics. When not writing, he trades forex and plays video games.

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