Coinbase adds support for Peanut (PNUT) on Solana, warns against wrong network transfers

Coinbase, one of the top crypto exchange platforms, has said it will support Peanut the Squirrel (PNUT), a meme coin operating on the Solana network. However, Coinbase warns users that they must be keen and ensure they strictly transact on the Solana network, or they may lose their funds.

Through its X platform, Coinbase posted that the transfers for PNUT will be available on Coinbase and Coinbase Exchange in regions where Trading is supported; it further clarified:

Trading will begin on or after 9 AM PT on January 14 2025 if liquidity conditions are met. Once this asset is sufficiently supplied, trading on our PNUT-USD trading pair will launch in phases. Support for PNUT may be restricted in some supported jurisdictions.

~Coinbase

PNUT is gaining popularity as most exchanges continue to list it

PNUT has been growing popular and gaining attention from different crypto exchanges. KuCoin was the first to announce the listing of the meme coin in early November before it began trading on November 11, 2024.

Coinbase’s announcement was timely for the crypto, as it caused the coin to jump almost 30% to trade at $1.29. This is a significant shift, considering that the coin is very new in the market. Currently, the meme coin’s market capitalization stands at $1.28 billion.

The New York Department of Conservation blessed the crypto society with its euthanization of squirrel mascot

PNUT began with the New York Department of Conservation euthanizing a squirrel mascot named Peanut. The incident was controversial, making it viral and trending on social media. Soon, the meme transformed into a digital asset with a massive following on Crypto Twitter, reaching a significant market value.

The meme coin trades above its peers, including POPCAT and MOG COIN. Its presence in serious crypto exchange platforms like Binance and Coinbase may grow the token tenfold.

A Step-By-Step System To Launching Your Web3 Career and Landing High-Paying Crypto Jobs in 90 Days.