New Altcoin Listings from Coinbase and Robinhood: Mixed Market Reaction

Leading cryptocurrency platforms Coinbase and Robinhood are expanding their product offerings with new altcoin listings. However, these steps have not had the expected positive impact on prices due to the general downward trend in the market.

Coinbase Offers Trading Support for 4 New Tokens

Coinbase announced that it has added Mamo (MAMO), Euler (EUL), Succinct (PROVE), and Towns Protocol (TOWNS) tokens to its platform.

MAMO and EUL will gradually be made available with USD trading pairs after 9 AM Pacific Time.

PROVE and TOWNS were listed in Coinbase's 'Experimental Label' category and are currently trading on both the website and mobile apps.

Among these tokens, PROVE and TOWNS were also listed by Binance with a "seed label." Additionally, PROVE has begun trading on South Korea's leading exchanges Upbit and Bithumb.

Following the listings, some tokens showed significant price movements:

MAMO rose by 22.88% to increase from $0.153 to $0.188. At the time of writing, it was trading at $0.172, up 15.07%.

EUL experienced a temporary increase of 11% but gave back most of its gains, dropping to $11.06.

PROVE has shown an impressive increase of 94% since its listing.

TOWNS, on the other hand, gained 6.8% while following a more volatile chart.

Coinbase also announced that it has added dYdX (COSMOSDYDX) to its listing roadmap.

"The trading of these assets is dependent on market maker support and the completion of technical integration. A separate announcement will be made when the necessary conditions are met," it was stated.

Robinhood Legend Lists 4 New Altcoins

Robinhood has also launched trading support for four new altcoins on its advanced platform, Robinhood Legend:

Bonk (BONK)

Pudgy Penguins (PENGU)

Peanut the Squirrel (PNUT)

Stellar (XLM)

Despite the new listings, a decline in the prices of these assets was observed:

BONK 3.95%

PENGU 2.76%

PNUT 1.10%

XLM decreased by 2.17%.

These declines are considered part of a broader market correction. According to BeInCrypto Markets data, the total cryptocurrency market cap decreased by 1.64% in the last 24 hours.