Coinbase Triggers Rallies After Announcing Listing of Solana-Based Memecoin Peanut the Squirrel (PNUT)
A Solana (SOL)-based memecoin is surging after gaining support from top US crypto exchange Coinbase. In a post on the social media platform X, Coinbase announces the addition of Peanut the Squirrel (PNUT) to its platform for spot trading. Amid the news, Peanut the Squirrel is up 26.9% on the day. PNUT is trading for $0.62 at time of writing, and with a market cap of $627.9 million, the memecoin is the 165th largest crypto project. Coinbase signaled last month that a PNUT listing would occur at some point after adding the digital asset to its listing roadmap. Coinbase uses the listing roadmap for transparency and to prevent insider trading on coins prior to them being listed. Being placed on the listing roadmap means the firm has determined the asset will likely be available for trading in the future. PNUT is just one of a batch of other memecoins Coinbase has rolled out support for in recent months. Others include Gigachad (GIGA), a crypto asset inspired by the...
