Coinbase Announces Listing of Cryptocurrency Neon EVM (NEON)

Coinbase, a leading cryptocurrency exchange in the United States, announced that it will soon add a new altcoin, Neon EVM (NEON), which runs on the Solana network, to its platform. The news was revealed this week and is already causing a buzz among investors and sector enthusiasts.

As stated by Coinbase, NEON will be officially supported on the Solana network and is expected to begin trading on April 30, 2024, provided liquidity conditions are met. The inclusion of this altcoin on Coinbase is seen as a significant step, given that NEON already appears on large centralized exchanges such as Bybit and Kucoin, but has not yet been listed on Binance.

NEON’s market value is relatively modest, around US$73 million, but this did not prevent its share price from rising sharply. Before Coinbase’s announcement, the price of NEON hovered around $1.00, and after the announcement, it rose to around $1.26, marking an increase of almost 20%.

Coinbase will add support for Neon EVM (NEON) on the Solana network (SPL token). Do not send this asset over other networks or your funds may be lost. Transfers for this asset are available on @Coinbase & @CoinbaseExch in the regions where trading is supported.

— Coinbase Assets 🛡️📞 (@CoinbaseAssets) April 29, 2024

NEON positions itself as a smart contract within the Solana network and, according to its official website, stands out as an Ethereum Virtual Machine (EVM). This feature allows developers to easily build and deploy EVM chain dApps for Solana using their existing codebases. The description on the NEON website highlights: “Neon EVM is an Ethereum Virtual Machine (EVM) that allows developers to build and deploy EVM chain dApps for Solana using their existing codebase.”

At the time of publication, the price of NEON was quoted at US$1.16, up 9% in the last 24 hours.

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