Coinbase Officially Adds Peanut the Squirrel (PNUT) to Its Platform

Coinbase has officially listed Peanut the Squirrel (PNUT) on its platform, marking a significant milestone for the memecoin.

The listing, now live on Coinbase.com and its mobile apps, allows users to buy, sell, convert, send, receive, or store PNUT. Despite this development, PNUT’s price has remained stagnant, still down 80% from its all-time highs.

Typically, listings on tier-1 exchanges like Coinbase generate significant price surges for cryptocurrencies. However, PNUT’s lackluster market response raises questions about whether this move will serve as a turning point for the memecoin or simply add to its existing hype cycle.

Coinbase had previously announced the listing date through its Assets handle on X (formerly Twitter), stating that trading would commence on January 14, 2025, provided liquidity conditions were met. Following the listing, trading for the PNUT-USD pair began in phases as liquidity reached sufficient levels.

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Now that PNUT is live on Coinbase, market watchers are eager to see if this will ignite momentum for the struggling cryptocurrency or if it will remain overshadowed by its steep decline. The listing represents an opportunity for broader exposure, but the market’s reaction so far suggests that recovery might require more than just access to a major exchange.

Alexander Stefanov