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Coinbase Lists Pirate Nation Token, Price Jumps 150%

Coinbase lists Pirate Nation (PIRATE) on Ethereum, price soars 105%, with $50M market cap and $136M daily trading volume
Coinbase Lists Pirate Nation Token, Price Jumps 150%

Highlights

  • Pirate Nation token (PIRATE) soars 150% post-Coinbase listing.
  • PIRATE's market cap hits $50M, ranks 2674th among cryptocurrencies.
  • Trading volume for PIRATE reaches $136M in 24 hours, ranked 176th.

Coinbase has announced the listing of Pirate Nation (PIRATE), an ERC-20 token on the Ethereum network. This is a positive move for the cryptocurrency as it gained a 150% increase in price after the announcement was made.

PIRATE can now be traded on Coinbase and Coinbase Exchange for those regions where trading is enabled.

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Coinbase Announces PIRATE Listing

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.

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Pre- and Post-TGE Strategy

The success of Pirate Nation can be attributed to the strategic approach that it took in its Token Generation Event (TGE). Thus, 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.

In the game, there were Booty Points, which could be obtained during the combat and while completing special tasks. These points were used to purchase intermediate assets for the upgrades of pirates and ships. The strategy ensured that the players were always active and the game was balanced throughout the process.

The post-TGE strategy is intended to maintain player retention, solve the initial players’ acquisition issue, and establish a long-term token usage system. Out of the total token supply, 47% was given directly to the community to ensure that game economies are driven by the players themselves.

For high-visibility engagement, Pirate Nation came up with new social farming techniques. This involved a Discord Blitz campaign which involved the community engaging in various pirate-related activities across different Discord channels. Another feature of the strategy was a referral system that encouraged the players to play the game not just to create an account. The referral system enabled 5 million gauntlet rounds to be cleared and 8 million quests to be done.

PIRATE’s Price Surge and Market Cap

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. 

Source: CoinMarketCap

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.

Read Also: Curve Finance Proposes 10% CRV Burn Amid Liquidation Crisis

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Kelvin Munene Murithi

Kelvin Munene is a crypto and finance journalist with over 5 years of experience, offering in-depth market analysis and expert commentary . With a Bachelor's degree in Journalism and Actuarial Science from Mount Kenya University, Kelvin is known for his meticulous research and strong writing skills, particularly in cryptocurrency, blockchain, and financial markets. His work has been featured across top industry publications such as Coingape, Cryptobasic, MetaNews, Cryptotimes, Coinedition, TheCoinrepublic, Cryptotale, and Analytics Insight among others, where he consistently provides timely updates and insightful content. Kelvin’s focus lies in uncovering emerging trends in the crypto space, delivering factual and data-driven analyses that help readers make informed decisions. His expertise extends across market cycles, technological innovations, and regulatory shifts that shape the crypto landscape. Beyond his professional achievements, Kelvin has a passion for chess, traveling, and exploring new adventures.

Why trust CoinGape: CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journalists and analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
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