Coinbase has officially added support for Hamster Kombat, a tap-to-earn game on Telegram, by listing its token, HMSTR, for perpetual futures trading.
This announcement comes as several exchanges show interest in the asset following its much-anticipated launch, raising speculation about its price movements after a significant drop since debuting.
The exchange’s listing on the Coinbase International Exchange and Coinbase Advance, effective September 26, aims to provide users with diverse trading options and enhance asset management strategies.
This development has generated optimism in the crypto community, as such listings often lead to price increases for new assets.
However, despite the positive sentiment, the price of HMSTR has taken a hit, falling 43% to $0.007094 amid concerns over potential sell-offs from early holders.
Leading exchanges, including Binance, have also expanded their support for the token, yet mixed feelings persist regarding its future trajectory. Meanwhile, the broader cryptocurrency market continues to perform well, with Bitcoin surpassing $65,000 after a 3% increase in the last 24 hours.
XRP is currently trading at $0.53 and has dropped nearly 15% in October, largely due to a renewed appeal by the U.S. Securities and Exchange Commission (SEC) in the ongoing lawsuit against Ripple.
Quite a few market participants maintain a positive outlook for Bitcoin as the fourth quarter approaches, driven by stable macroeconomic factors and institutional investment.
The cryptocurrency market is experiencing a notable decline since the beginning of the week, but remain a trending topic in the investment world.
Anticipation for heightened price fluctuations in Ethereum compared to Bitcoin is growing among traders, particularly with key macroeconomic events approaching, according to a crypto analyst.