- Degen surged more than 160% in 24 hours after Coinbase announced trading support for the Base token.
- io.net’s token will also be listed on Coinbase, but its price fell amid a crypto downturn tied to geopolitical events.
Degen (DEGEN) rallied sharply after the U.S.-based cryptocurrency exchange Coinbase announced that it had added DEGEN to its listing roadmap.
According to market data on CoinGecko, DEGEN jumped from a low of $0.004 to nearly $0.012 following the announcement.
Over the 24-hour period, the meme token’s price rose by more than 160%, pushing DEGEN’s value back to levels last seen in June of this year.
DEGEN to be Listed on Coinbase
Degen, a community token and blockchain associated with the decentralized social platform Farcaster, will be added to Coinbase for spot trading.
GM Degens! Huge news—$DEGEN is getting listed on Coinbase Spot trading, becoming the 4th @base token. This journey’s been wild, and we’ve got plenty ahead. Big thanks to the Degen and Base fam for sticking with us. Let’s keep building! https://t.co/m9j1FcTYMs
— Degen 🎩 (@degentokenbase) October 1, 2024
Coinbase unveiled its listing roadmap in July 2022 as a transparency measure. The roadmap also helps prevent front-running by making clear which assets the exchange has decided to list.
Degen launched as a rewards token for the Farcaster community. While adoption as a meme token helped build a strong user base, the project has increasingly attracted attention from developers and content creators, driven by rising development activity and ecosystem growth.
DEGEN is currently traded on exchanges such as OKX, Bybit, KuCoin and Gate.io, among others. The token’s price has risen more than 330% over the past 30 days, though it remains well below its all-time high of over $0.064 reached in March 2024.
Coinbase to Also List io.net
io.net (IO) is the second token Coinbase announced for trading support via the roadmap addition.
While DEGEN spiked, IO traded lower alongside other cryptocurrencies amid geopolitical uncertainty in the Middle East. io.net is a decentralized AI compute platform built on Solana.
The IO price has fallen about 14% in the last 24 hours but remains broadly bullish after gains over the past month.
Over the last 30 days, IO is up more than 25%, with most gains coming in late September following an announced partnership with Phala Network. At the time of writing, IO was trading around $1.78.