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

Coinbase exchange has announced support for Telegram’s tap-to-earn game Hamster Kombat. The platform will list HMSTR perpetual futures as the token garners support from multiple exchanges. Crypto users speculate about the impact on the asset’s price following the sharp fall after its launch. 

Coinbase’s Listing Announcement Sparks Optimism

Crypto exchange Coinbase revealed a perpetual futures listing for Hamster Kombat. This comes amid multiple exchanges adding support for the token following its highly anticipated launch. Per the announcement, the asset will be listed on the Coinbase International Exchange and Coinbase Advance on Sept 26. 

@CoinbaseIntExch will add support for Hamster Kombat perpetual futures on Coinbase International Exchange and Coinbase Advanced. The opening of our HMSTR-PERP market will begin on or after 5pm UTC 26 SEP 2024. $HMSTR pic.twitter.com/6eZ3St3KVT

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

This follows the exchange roadmap to offer users diversified offerings and provide sophisticated options to manage digital assets. The move triggered positive comments from the wider community on X (formerly Twitter) due to similar listings. Traditionally, top crypto listings on exchanges garner support leading to an upward movement in the price of the asset. 

Crypto exchanges also stand to gain as the wider community interacts with the assets amid growing competition among centralized platforms. The exchange continues to show support for crypto tokens through its listings. Coinbase announced support for four tokens including CoW on Ethereum, WELL on Base, CATI, and ZETA. The platform also issued instructions to users on sending assets to other networks to avoid 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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David Pokima

David is a finance news contributor with 4 years of experience in Blockchain Technology and Cryptocurrencies. He is interested in learning about emerging technologies and has an eye for breaking news. Staying updated with trends, David reported in several niches including regulation, partnerships, crypto assets, stocks, NFTs, etc. Away from the financial markets, David goes cycling and horse riding.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.