Degen (DEGEN) Memecoin Surges 128% After Coinbase Listing Roadmap Addition

A memecoin built on the Ethereum (ETH) layer-2 scaling solution Base is up nearly 128% in the past 24 hours after being added to Coinbase's listing roadmap.

Degen (DEGEN) price surged nearly 128% in the past 24 hours after Coinbase included the memecoin in its listing roadmap.

The memecoin, which 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 Farcaster’s ecosystem the ability to reward those “posting quality content” and bridge “the gap between online contributions and real-world value.”

At time of writing, DEGEN is trading at $0.009, a significant increase from the price of around $0.004 it was trading at 24 hours prior.

Coinbase also added the Solana (SOL)-based altcoin io.net (IO) to its listing roadmap, which puts tokens on the potential path towards being listed for trading on the top US crypto exchange.

A decentralized AI computing network, io.net aims to provide machine learning engineers with access to lower-cost, distributed cloud clusters.

The network’s goal is to address the challenges posed by traditional cloud service providers, which often have insufficient capacity, leading to issues like high costs and lengthy wait times for accessing hardware through cloud services.

However, unlike DEGEN, IO didn’s experience any gains. In fact, the 299th-ranked crypto asset by market cap declined 0.6% in the past 24 hours and over 17% in the past week. At time of writing, the token is trading at $1.75.

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