Coinbase, one of the leading crypto exchanges in the U.S., has expanded its asset offerings by adding three new digital tokens, including a trending memecoin.
Gigachad (GIGA), built on the Solana blockchain, has garnered attention thanks to its association with Russian bodybuilder Ernest Khalimov’s photo series. The token surged by over 39% following its listing on Coinbase, rising from $0.04911 to $0.06844. Currently valued at a market capitalization of $657.9 million, Gigachad ranks as the 183rd largest crypto project.
In addition to GIGA, Coinbase introduced Magic Eden (ME), a utility token tied to the Solana-based NFT marketplace Magic Eden.
ME allows users to list and sell NFTs on the platform, earning tokens through transactions.
Lastly, the exchange listed Turbo (TURBO), an Ethereum-based memecoin inspired by a toad character, created with GPT-4. Turbo’s community celebrated its Coinbase debut with an enthusiastic message on social media, calling the token a “symbol of power and community-driven potential.”
Ethereum investors who bought at higher price levels are now struggling to inject new capital into the market, raising doubts about the cryptocurrency’s ability to regain momentum, according to Chinese on-chain analyst Murphy.
Dogecoin’s network has seen a massive uptick in activity, with the number of active addresses skyrocketing by 400%, according to blockchain analytics.
Ella Zhang, head of YZi Labs (formerly Binance Labs), has observed a noticeable change in crypto investment patterns.
21Shares has decided to shut down its Bitcoin and Ethereum futures ETFs, with liquidation expected to take place by March 28.