Crypto Drama Unfolds: Will These Altcoins Rise or Fall? 🤔💸

by

Ah, the eternal dance of fortune and folly!

  • In the grand theater of Coinbase, the latest listings have ignited a brief flicker of hope for some cryptocurrencies, akin to a candle in a tempest.
  • Yet, as is often the case in this capricious market, the rally was but a fleeting mirage, with gains evaporating faster than a dream upon waking.

The Latest Additions

Lo and behold! The illustrious Coinbase, that bastion of digital finance, has graced us with the addition of three new tokens: PancakeSwap (CAKE) on the Ethereum network, Subsquid (SQD) on the Arbitrum network, and the whimsically named Fartcoin (FARTCOIN) on the Solana network. What a time to be alive! 🎉

This news, released just yesterday (June 11), heralds the dawn of trading services for these tokens, available to the eager masses from today. How delightful!

As the announcements echoed through the digital corridors, a price uptick ensued, with CAKE soaring by 6% to a dizzying $2.69, FARTCOIN galloping above $1.50, and SQD reaching a new zenith of $0.28. One must note, however, that the entire crypto market was basking in the glow of positive US CPI data and the ever-tumultuous USA-China trade relations.

But alas! In the hours that followed, the sector took a nosedive, and Coinbase’s newly minted tokens lost much of their ephemeral gains. As I pen these words, SQD clings to the green zone, while FARTCOIN and CAKE wallow in the depths of despair.

The initial surge of these tokens should not surprise the astute observer. Coinbase, a titan among crypto exchanges, lends its support, enhancing liquidity, accessibility, and reputation. A veritable lifeline!

This theory has been validated time and again. Earlier this year, the meme coin Peanut the Squirrel (PNUT) experienced a 30% price surge after its introduction on Coinbase. A true testament to the power of association!

Just days later, another meme – Toshi (TOSHI) – exploded in value, tripling in digits after being added to the exchange’s roadmap. Ah, the sweet taste of success in this special zone where assets must meet certain criteria before being officially listed!

A Different Story When Delisting

As we approach the end of May, the company announced a rather grim fate for users: trading services for Helium Mobile (MOBILE), Render (RNDR), Ribbon Finance (RBN), and Synapse (SYN) will cease on June 26. A tragic turn of events!

“MOBILE, RNDR, RBN, & SYN are being delisted because new versions of these tokens have been released. As a result, the original versions no longer meet our listing criteria,” they proclaimed, with a hint of sorrow.

This delisting effort has triggered a substantial pullback for the affected tokens, with SYN suffering the most significant loss of around 15%. Such is the cruel fate of the digital denizens in this relentless market!

Read More

2025-06-12 19:01