|

Coinbase lists Solana-based NEON, queues QCAD for listing in the future

  • Coinbase added Canadian stablecoin QCAD, which was relaunched in 2023, to its roadmap for a future listing.
  • The exchange has listed Solana-based NEON, whose trading will begin on Tuesday.
  • NEON's price increased 6% in the past 24 hours, likely due to the Coinbase listing effect.

Coinbase, one of the largest cryptocurrency exchanges, announced on Monday the listing of Neon (NEON) and its intention to do the same for stablecoin QCAD in the near future. Neon is an SPL token, a fungible token built on the Solana blockchain, while QCAD is a stablecoin indexed to the Canadian Dollar (CAD). 

NEON is the token of a protocol that allows developers to build and deploy Ethereum-native dApps on Solana. The asset added 6% gains in the last 24 hours, likely driven by Coinbase’s listing announcement. 

NEON listed on Coinbase, QCAD in the queue

Solana-based token NEON gives dApp (decentralized application) developers from blockchains like Ethereum and Polygon the option to benefit from Solana’s transaction speed and low gas fees. 

Coinbase announced on Monday that it will add support for Neon EVM. Transfers for NEON will be available on Coinbase and Coinbase Exchange in the regions where trading is supported. 

NEON will begin trading at 16:00 GMT on Tuesday if liquidity conditions are met. A sufficient supply of the asset is needed to establish trading in the NEON/USD trading pair. The exchange warns users that trading in the Solana-based asset may be restricted in certain jurisdictions. 

NEON price climbed over 6% in the past 24 hours, likely due to the “listing effect,” according to data from CoinGecko. 

Meanwhile, Coinbase also announced that Canadian stablecoin QCAD, which was relaunched in 2023, has made its way to Coinbase’s updated “roadmap”. Tokens added to the roadmap are on the exchange’s radar and queued up for listing and trade. 

Author

Ekta Mourya

Ekta Mourya

FXStreet

Ekta Mourya has extensive experience in fundamental and on-chain analysis, particularly focused on impact of macroeconomics and central bank policies on cryptocurrencies.

More from Ekta Mourya
Share:

Editor's Picks

Official Trump Price Forecast: TRUMP hits record low amid mounting selling pressure

Official Trump hovers around $1.2500, taking a breather after a 20% drop the previous day. TRUMP token’s decline aligns with Republicans' defeat in the US midterms. Positional buildup in TRUMP derivatives suggests a more bearish bias among traders, while the technical outlook reaffirms the potential for further downside as selling pressure persists.

Ripple and Stellar outlook: XRP and XLM extend recovery as bears lose steam

Ripple and Stellar extend their recovery as bearish pressure begins to ease for both altcoins. XRP trades above $1.30 after breaking above the upper trendline of a falling channel pattern, while XLM holds above $0.168 and approaches resistance at $0.173. Meanwhile, improving derivatives metrics and strengthening momentum indicators hint at a potential for further recovery.

Dogecoin Price Forecast: Rebound gains traction as bulls target key resistance trendline

Dogecoin shows signs of recovery, hovering above $0.0770 after two consecutive days of gains. The meme coin gains traction despite muted appeal from institutional investors and declining Open Interest. The technical outlook for DOGE suggests an upside bias as the recovery gains traction, hinting at a potential bullish breakout of a key resistance trendline on the four-hour chart.

US Democrats plan new Crypto Market Structure bill after midterm wins

House Democrats are reportedly discussing plans to introduce a broader crypto market structure bill in the next Congress, potentially reviving provisions they unsuccessfully sought to include in the Digital Asset Market Clarity Act.

Bitcoin: Binance security breach and hawkish Fed push BTC lower
Bitcoin (BTC) continues to weaken this week, down more than 3% and heading for its fourth straight weekly loss. The largest cryptocurrency by market capitalization is facing a bearish outlook, fueled by a hawkish Federal Reserve (Fed) outlook at the October meeting and a reported $6.3 billion hack at Binance, which is driving risk aversion and triggering heavy liquidations.