{"id":64533,"date":"2025-12-12T05:38:04","date_gmt":"2025-12-12T05:38:04","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/altcoins-today-coinbase-unlocks-solana-token-trading-memecoins-shed-over-2-6b\/"},"modified":"2025-12-12T05:38:04","modified_gmt":"2025-12-12T05:38:04","slug":"altcoins-today-coinbase-unlocks-solana-token-trading-memecoins-shed-over-2-6b","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/altcoins-today-coinbase-unlocks-solana-token-trading-memecoins-shed-over-2-6b\/","title":{"rendered":"Altcoins today: Coinbase unlocks Solana token trading, memecoins shed over $2.6B"},"content":{"rendered":"

(Originally posted on : Ethereum News, Latest Stories & Analysis | Invezz )<\/b>
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Digital currencies plunged on Thursday<\/a>, December 11, with the value of all cryptocurrencies declining by 2.50% in the past 24 hours to $3.07 trillion.<\/p>\n

Today\u2019s slump caught many off guard as it happened even after the Fed delivered the much-anticipated 25 bp rate cut, a move that generally sparks risk assets. <\/p>\n

Nevertheless, hawkish comments from Chair Jerome Powell signaled a cautious stance.<\/p>\n

Cryptocurrencies recorded minor rebounds following the rate cut, but failed to sustain momentum as markets interpreted Powell\u2019s remarks as an indication that prevailing liquidity conditions might last longer than expected.<\/p>\n

This article highlights two topics that grabbed investor attention today: Coinbase opening support for all Solana native coins and the current bearish conditions in the meme assets space.<\/p>\n

Coinbase adds support for all Solana tokens<\/h2>\n


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Leading exchange Coinbase has enriched its on-chain reputation by unlocking the trading of any Solana token in its mobile application. <\/p>\n

The move, announced during the Solana Breakpoint Conference, removes a crucial obstacle for early-stage projects.<\/p>\n

Users can access and trade new assets immediately they become available on-chain, without formal listings. <\/p>\n

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JUST IN: Coinbase to allow users to trade all Solana tokens through DEX without official listings.
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Moreover, issuers and builders managing projects with adequate liquidity can be visible to millions of users without lengthy approval and listing procedures. <\/p>\n

The announcement emphasized:<\/p>\n

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Coinbase is specifically expanding to Solana. This means very soon you will be able to open the Coinbase app and see native Solana assets.<\/p>\n<\/blockquote>\n

Meme tokens lose billions in market pullback<\/h2>\n


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While Coinbase\u2019s support sparked optimism within the Solaa ecosystem, meme cryptocurrencies had a rough day.<\/p>\n

While the global crypto market capitalization plunged by roughly 2.50% the last day, top meme coins across Ethereum and Solana lost over $2.6 billion.<\/p>\n

CoinGecko data shows their market cap lost nearly 6% from $48.01 billion to press time\u2019s $45.34 billion.<\/p>\n

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Source<\/a> \u2013 CoinGecko<\/em><\/figcaption><\/figure>\n

Meme assets\u2019 trading volume surged to surpass $5 billion, signaling robust activity from participants likely trimming their holdings.<\/p>\n

Meanwhile, the likes of Dogecoin, PENGU, and PUMP have lost up to 10% of their value as sellers prevail.<\/p>\n

Meanwhile, that\u2019s not unusual. Meme tokens outshine other categories during bullish markets and underperform amid selling pressure.<\/p>\n

Crypto market overview<\/h2>\n


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Digital assets displayed substantial selling pressure today. <\/p>\n

Bitcoin has lost more than 2% to $90,280, while Ethereum (-4.30), XRP (-3.40), and Solana (-4.20) reflect overwhelming selling pressure.<\/p>\n

Jerome Powell\u2019s hawkish remarks triggered the bearish wave. <\/p>\n

After the already-priced-in 25 bp cut, the Chair confirmed that the labor market remained weak while inflation stayed high. <\/p>\n

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Replying to @wiseadvicesumit<\/a><\/p>\n

POWELL\u2019S TONE WAS HAWKISH
\nPowell doubled down on risks:
\n\u2713 Employment downside risks rising
\n\u2713 Inflation still elevated
\n\u2713 Goods inflation picking back up
\n\u2713 Rates now in a \u201cplausible neutral range\u201d but cuts likely on pause
\nMarkets hated it.<\/span><\/p>\n<\/article>\n<\/div>\n<\/div>\n

Furthermore, the Federal \u2018dot plot\u2019 indicated a probability of a single rate cut in 2026, which markets interpreted as bearish.<\/p>\n

Further, possible profit-taking contributed to the selling pressure. <\/p>\n

Prediction site Polymarket assigned a 98% chance of a rate cut before the Fed\u2019s confirmation.<\/p>\n

Also, institutions poured millions<\/a> through ETFs on Wednesday ahead of the decision.<\/p>\n

These market players likely booked profits after the rate cut, triggering price declines.<\/p>\n

Meanwhile, Bitcoin continues to set the market\u2019s tone. It should reclaim $91,800 to avoid further declines. <\/p>\n

Losing $89,500 can see the largest cryptocurrency by value plunge to $80,000.<\/p>\n<\/p><\/div>\n