The cryptocurrency world has become a rapidly developing ecosystem that has been followed with great interest in recent years. Especially large exchanges continue to attract attention with the new products they offer to their users and the altcoins they list. These developments have significant impacts not only on cryptocurrency investors but also on the general market. Recent important altcoin announcements from Binance and Coinbase reveal this dynamic structure once again.
DIA move from Binance: 75x leverage opportunity
Binance, the world’s largest cryptocurrency exchange, attracts attention with its altcoin listings and new transaction options. In a statement made on October 2, 2024, Binance announced that it would list the altcoin called DIA in futures transactions with 75x leverage. While this move attracted the attention of investors, it also brought the risks and rewards of leveraged transactions to the agenda once again. Binance Futures will launch the DIAUSDT Perpetual Contract at 12:30 UTC on October 2, 2024 with 75x leverage. This move is considered within the framework of Binance’s strategy to expand transaction options and offer more diverse products to its users. DIA coin rose by 24 percent due to the impact of the announcement.
Although leveraged transactions offer investors the opportunity to increase their potential earnings, it should not be forgotten that they carry the same amount of risk. Particularly high leverage means that even small price fluctuations can create large gains or losses. DIA is known as a data collection and analysis platform. The project, which stands out with the aim of ensuring data transparency and accuracy in the world of decentralized finance (DeFi), plays an important role in data transfer between different platforms. Binance’s inclusion of DIA in the futures market has the potential to increase the liquidity of this altcoin and make it accessible to a wider audience of investors.
Two new altcoins on Coinbase’s road map: IO and DEGEN
In addition to Binance, Coinbase, the largest US-based cryptocurrency exchange, is also on the agenda with altcoin listings. With the announcement made on Twitter on October 1, 2024, Coinbase announced that it added two new altcoins named io.net (IO) and Degen (DEGEN) to its road map. This move is considered as part of Coinbase’s strategy to add new cryptocurrencies to its ecosystem. Coinbase stated in its statements in recent months that it would include more cryptocurrencies in its ecosystem.
According to the statement on the company’s blog, meeting legal, compliance and technical security standards is a priority criterion for the crypto assets they consider to list on the platform. This means that factors such as market value or popularity are excluded from consideration. With this approach, Coinbase aims to offer a wider range of assets to its users.
DEGEN and IO experienced an increase
These two new altcoins that Coinbase added to its road map attracted the attention of investors. DEGEN, in particular, experienced a large price increase following the listing announcement. According to CoinGecko data, DEGEN attracted attention by rising by 184% in the last 24 hours. Degen is known as a community token developed on the decentralized social platform Farcaster. DEGEN, especially known for its meme coin status, quickly gained popularity among investors interested in such projects.
Degen’s increase of more than 160% in the last 24 hours, from $ 0.004 to $ 0.012, had a great impact on the market. This rise enabled DEGEN to reach its highest level since June 2024. Degen’s progress towards being listed on Coinbase was met with great excitement by the community.
On the other hand, io.net (IO) token is trending downward despite the announcement. io.net, a Solana-based decentralized artificial intelligence platform, traded at $1.84, decreasing by 12.5% in the last 24 hours. However, looking at long-term charts, it is seen that the IO token experienced a significant rise after its partnership with Phala Network in late September and gained 25% in value in the last 30 days. It is predicted that this token may enter a new uptrend if it is listed on Coinbase in the future.
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