Coinbase Officially Lists Peanut the Squirrel (PNUT) Memecoin

Coinbase has officially listed Peanut the Squirrel (PNUT) on its platform, marking a significant milestone for the memecoin.

Coinbase, the leading cryptocurrency exchange in the United States, has finally listed Peanut the Squirrel (PNUT) on its platform. This marks a significant event for the memecoin, which has been struggling to maintain momentum following a steep decline from its all-time highs.

The listing, which went live on Coinbase.com and its mobile apps, allows users to buy, sell, convert, send, receive, or store PNUT. However, despite this development, PNUT's price has remained largely stagnant, still down 80% from its peak.

Typically, listings on tier-1 exchanges like Coinbase generate significant price surges for cryptocurrencies. However, PNUT's lackluster market response raises questions about whether this move will serve as a turning point for the memecoin or simply add to its existing hype cycle.

Coinbase had previously announced the listing date through its Assets handle on X (formerly Twitter), stating that trading would commence on January 14, 2025, provided liquidity conditions were met. Following the listing, trading for the PNUT-USD pair began in phases as liquidity reached sufficient levels.

As PNUT is now available for trading on Coinbase, market watchers are closely observing whether this will ignite momentum for the struggling cryptocurrency or if it will remain overshadowed by its steep decline. The listing provides an opportunity for broader exposure, but the market's reaction so far suggests that recovery might require more than just access to a major exchange.