A memecoin built based on the Ethereum (ETH) layer 2 scaling solution is up nearly 128% in the past 24 hours after being added to Coinbase’s listing roadmap.
Degen (DEGEN) is trading at $0.009 at the time of writing, up from around $0.004 a day ago.
Memecoin, launched on Base in January, serves as a reward token for Farcaster, a blockchain protocol for building social networks. The project aims to give users of the Farcaster ecosystem the opportunity to reward those who “publish quality content” and close “the gap between online contributions and real value”.
Coinbase has also added Solana (SOL)-based altcoin io.net (IO) to its listing roadmap, putting the tokens on a potential path to trading on the leading US crypto exchange.
Io.net is a decentralized AI computing network that aims to enable machine learning engineers to access distributed cloud clusters at a lower cost. The aim is to address the challenges of traditional cloud service providers having insufficient capacity, creating problems such as high costs and longer wait times to access hardware with cloud services.
Unlike DEGEN, IO has not seen any gains: the crypto asset ranked 299th by market capitalization is down 0.6% over the past 24 hours and over 17% over the past week. The token is trading at $1.75 at the time of writing.
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