Welcome Crypto Enthusiast
Welcome to the latest update in the cryptocurrency market. The industry has experienced significant volatility in recent days, with major assets like Bitcoin, Ethereum, and Solana facing price drops. However, amidst this overall correction, there are exceptions to the trend. One particular highlight is the surge of a Solana-based meme coin, BOOK OF MEME (BOME), which has seen a remarkable 10% daily increase in its price. This surge is believed to be linked to a recent decision by Coinbase to allow certain trading services with BOME. Let’s delve deeper into this interesting development.
Flashing Green Amid the Overall Correction
The recent decline in the cryptocurrency market has been widely felt, with leading digital assets seeing red on a weekly scale. Meme coins like Dogecoin, Shiba Inu, and others have also dipped in the past 24 hours. However, amidst this downward trend, there are a few exceptions that have experienced price rallies.
- Solana-based meme coin, BOOK OF MEME (BOME), has surged by 10% in recent days.
- This surge coincided with Coinbase’s announcement of launching BOME perpetual contracts, scheduled to go live on June 20.
- BOME’s market capitalization surpassed $1 billion in mid-March, with Binance listing various trading pairs.
Additionally, Notcoin (NOT) perpetual contracts will also be available to Coinbase users on June 20, although the asset did not witness a similar price increase as BOME.
Coinbase and Meme Coins
It is worth noting that Coinbase has been actively supporting meme coins in the market. Earlier this year, the company introduced support for Shiba Inu, Floki Inu, and Bonk Inu by offering perpetual futures contracts for these assets.
- These perpetual contracts allow traders to speculate on the future price movements of cryptocurrencies without owning them.
- Contracts do not have an expiration date, offer high leverage, and require users to maintain a certain margin level.
- Other meme coins like dogwifhat (WIF) and Pepe (PEPE) have also received approval from Coinbase.
PEPE perpetual futures were launched on Coinbase International Exchange and Coinbase Advanced, while WIF saw a price surge after the introduction of perpetual contracts.
Hot Take: Stay Informed and Stay Safe!
Stay informed about the latest developments in the cryptocurrency market, especially when it comes to meme coins like BOOK OF MEME (BOME). Keep an eye on updates from platforms like Coinbase, as they can have a significant impact on the prices of these assets. Remember to trade cautiously and conduct thorough research before making any investment decisions in this dynamic market.
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