A memecoin called Degen (DEGEN) has skyrocketed in value after Coinbase, a major crypto exchange, added it to its potential listing roadmap.
Degen’s Big Jump
Degen, which runs on the Ethereum layer-2 scaling solution Base, has seen a massive 128% increase in price in the past 24 hours. It’s now trading at $0.009, up from just $0.004 a day ago.
What is Degen?
Degen is a reward token for Farcaster, a blockchain platform that lets people build social networks. It aims to give Farcaster users a way to reward others for creating good content and connect online contributions with real-world value.
Another Token on the List
Coinbase also added another cryptocurrency, io.net (IO), to its listing roadmap. Io.net is a decentralized AI computing network that aims to make machine learning more affordable by providing access to distributed cloud clusters.
No Gains for Io.net
Unlike Degen, io.net hasn’t seen any price gains. It’s actually down slightly in the past 24 hours and has dropped more than 17% over the past week. It’s currently trading at $1.75.
Disclaimer: This information is for general knowledge only and should not be considered investment advice. Always do your own research before investing in cryptocurrencies.
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