Key Takeaways
- Coinbase added TURBO and GIGA to its listing roadmap, causing significant price jumps.
- Altcoin season may diminish the impact of new token listings as market dynamics shift.
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Coinbase added meme tokens TURBO and GIGA to its listing roadmap, triggering substantial price movements for both assets. GIGA jumped 70% following the announcement, while Turbo rose 24%.
Assets added to the roadmap today: Gigachad (GIGA) and Turbo (TURBO)https://t.co/rRB9d3hSr2
— Coinbase Assets 🛡️ (@CoinbaseAssets) December 4, 2024
Giga traded at approximately $0.051 at press time, surging 70% following Coinbase’s announcement, with a market cap of $491 million.Turbo traded at approximately $0.0082, gaining 24% after being added to the listing roadmap, with a market cap of $568 million.This announcement follows Coinbase’s recent addition of MOG and MOODENG, two other meme coins, to its listing roadmap earlier this week. The listings come amid growing anticipation for new token launches on major platforms like Coinbase, the largest US-based exchange, and Binance, the world’s largest exchange. Such announcements often drive short-lived momentum for listed tokens, as demonstrated by TURBO and GIGA’s price jumps today.However, the market effect of these exchange listings may be waning as the crypto market transitions into altcoin season. According to Blockchain Center’s Altcoin Season Index, this week marks the official beginning of altseason—a period when 75% of the top 50 coins outperform Bitcoin over the last 90 days.During these euphoric phases, the impact of exchange listings on token prices typically diminishes as the market shifts its focus to broader speculative opportunities.
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