Coinbase To List Hamster Kombat Perp Futures; HMSTR Price Recovery Ahead?

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As a seasoned researcher who has witnessed countless crypto market fluctuations, I find myself intrigued by Coinbase’s latest move to list Hamster Kombat perpetual futures. Having followed the crypto space for years now, I’ve seen how exchange listings can significantly impact an asset’s price trajectory.

Coinbase, a popular cryptocurrency exchange, has declared it will back Telegram’s tapping-to-earn game, Hamster Kombat. The platform intends to feature HMSTR perpetual contracts as this token gains traction on various trading platforms. With multiple exchanges supporting the asset, crypto enthusiasts are discussing potential price fluctuations following its recent steep decline post-launch.

Coinbase’s Listing Announcement Sparks Optimism

As a crypto investor, I’m thrilled about the upcoming listing of Hamster Kombat on my trusted exchange, Coinbase. This exciting move comes after several platforms have started supporting the token following its much-anticipated debut. According to their announcement, the asset will be available on both the Coinbase International Exchange and Coinbase Pro starting September 26.

Starting from 5 PM UTC, September 26, 2024, or later, Hamster Kombat perpetual futures will be available for trading on both Coinbase International Exchange and Coinbase Pro. This new market for HMSTR-PERP is scheduled to open then. The token associated with this market is $HMSTR.

— Coinbase International Exchange (@CoinbaseIntExch) September 26, 2024

This adheres to the roadmap for trade exchanges, providing users with a variety of options and advanced tools for managing digital resources. This action sparked positive reactions across the community on X (previously Twitter), as it resembles similar listings. Historically, prominent crypto listings on trading platforms often receive backing, resulting in a rise in the asset’s price.

As the competition among centralized platforms increases and more people engage with cryptocurrencies, crypto exchanges benefit too by listing various tokens like CoW on Ethereum, WELL on Base, CATI, and ZETA. For instance, Coinbase has recently added support for these four tokens. The exchange also provides guidelines to users on transferring assets between networks in order to minimize potential losses.

What’s Next For The HMSTR Price? 

The big question remains the impact of this development on HMSTR price. As stated earlier, exchange listings add to the momentum of the asset often igniting a price rally. However, Hamster Kombat price plunged after its listing as holders fear for sell-offs. 

The asset has plunged 43% today trading at $0.007094 despite widespread anticipation before its launch. Top crypto exchanges also supported the token ahead of the listing. Binance expanded support for the asset offering services on its Earn, Buy Crypto, Convert, and Margin Trading. In crypto circles, users differ to the direction of the asset because it received widespread support and yet faces headwinds leading to lower sentiments. However, the wider market continues to rally as Bitcoin breaks $65,000 with a 3% surge in the last 24 hours. 

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2024-09-26 20:37