tl;dr
Coinbase has announced the listing of Pirate Nation (PIRATE), an ERC-20 token on the Ethereum network. The cryptocurrency saw a 150% price increase after the announcement. PIRATE can now be traded on Coinbase and Coinbase Exchange in regions where trading is enabled. The trading is expected to comme...
Coinbase Announces Support for Pirate Nation (PIRATE) ERC-20 Token on Ethereum Network Coinbase has announced the listing of Pirate Nation (PIRATE), an ERC-20 token on the Ethereum network. The cryptocurrency saw a 150% price increase after the announcement. PIRATE can now be traded on Coinbase and Coinbase Exchange in regions where trading is enabled. The trading is expected to commence later, pending liquidity thresholds. PIRATE's support is limited to specific regions.
The success of Pirate Nation is attributed to strategic pre- and post-TGE strategies. The token surged 150% to an all-time high of $0.3312 with a market cap of $74,337,691 and a 24-hour trading volume of over $56,610,286.
Coinbase has officially announced that it will be supporting the Pirate Nation (PIRATE) token. The exchange noted that trading of this asset is only possible on the Ethereum network (ERC-20). Users are advised against transferring this asset over other networks, which may lead to losing funds. The Ethereum network contract address for PIRATE is 0x7613C48E0cd50E42dD9Bf0f6c235063145f6f8DC.
The trading is expected to commence later today, provided certain liquidity thresholds are achieved. Thus, after sufficient supply is created, the trading on the PIRATE-USD pair will commence gradually. PIRATE may be limited in some jurisdictions which means that its support is only available in specific regions.
The success of Pirate Nation can be attributed to the strategic approach that it took in its Token Generation Event (TGE). The pre-TGE strategy was built around the idea of creating network effects and kickstarting the in-game economy. This strategy involved the utilization of off-chain points referred to as Booty, to incentivize user interaction and other positive activities within the ecosystem. The post-TGE strategy is intended to maintain player retention, solve the initial players’ acquisition issue, and establish a long-term token usage system.
Following the listing announcement, PIRATE experienced a notable price increase. Despite starting the day at a low of $0.1142, the price soared 150% to an all-time high of $0.3312. Concurrently, PIRATE’s market capitalization rose to $74,337,691 during the rally, positioning it at 2668th among cryptocurrencies. The 24-hour trading volume was just over $56,610,286, making PIRATE the 128th most traded cryptocurrency.