As a seasoned crypto investor who has weathered multiple market cycles and witnessed the rise and fall of countless projects, I find Coinbase’s 2024 strategy to be a refreshing change from the wild west days of the past. Their cautious approach towards meme coins, focusing on larger assets with market values over $500 million, is a prudent move that aligns with my own investment philosophy – “In crypto, size matters.
In the year 2024, Coinbase plans to introduce 34 new tokens to its listing schedule, and about one-fifth of these will be meme coins. This move indicates a measured strategy from the exchange, even amidst the hype surrounding meme coins.
In contrast to other companies in the same sector, Coinbase appears to be adopting a more cautious strategy when it comes to listing tokens by 2024. Instead of including a wide variety of tokens, they seem to favor high-market-cap meme coins, and are particularly interested in Ethereum (ETH) and Base (BASE) networks, rather than Solana (SOL) or the BNB Chain (previously known as Binance Smart Chain).
On December 10th, a user known as “ai_9684xtpa” in a specific discussion thread disclosed that by the year 2024, Coinbase plans to list 34 new tokens according to their roadmap. This includes 7 meme coins, which account for approximately 20.58% of the total. Notably, around 71% of the listed meme coins have market values surpassing $500 million, indicating that Coinbase tends to prioritize larger assets compared to other competitors in its selection process.
As an analyst, I’ve noticed a significant surge in meme coin listings on platforms like Coinbase since October. This uptick coincides with heightened curiosity surrounding “dog coins” and other alternative tokens. Interestingly, Binance, another prominent platform, has also followed suit by listing 14 meme coins during the same period.
During this timeframe, both platforms experienced a surge in meme coin transactions; however, an analyst noted that Coinbase seems to employ a more strategic approach when it comes to distributing networks. Unlike Binance, which tends to list around 60% of its meme coins on the Solana network, the vast majority (57%) of coins listed on Coinbase are found on Ethereum. Solana and Coinbase’s own layer 2 network, Base, each account for approximately 28.6% of the listings on Coinbase.
As an analyst, I observed that unlike my competitors, I tend to approach new opportunities with a measure of prudence. Specifically, when it comes to listing meme coins, I generally wait at least a month after Binance has done so. This cautious approach helps ensure that we’re making informed decisions and mitigating potential risks for our users.
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2024-12-10 13:16