Coinbase Acquires Solana Meme Coin Social Trading App Vector

Core Viewpoint - Coinbase has announced the acquisition of Vector, a social meme coin trading application, to enhance its DEX trading integrations and improve the trading experience for Solana assets [1][2] Group 1: Acquisition Details - The acquisition will integrate Vector's technology into Coinbase's offerings, aiming to provide broader access to on-chain markets [1] - Vector was launched by the team behind the Solana NFT marketplace, Tensor, and the ownership of Tensor will be transferred to the Tensor Foundation [3] - Coinbase stated that the acquisition will not have a significant impact on its financials [3] Group 2: Impact on TNSR Token - The TNSR token, associated with the Tensor marketplace, surged over 300% in the past week despite a broader market selloff, now trading at $0.19 [5] - Approximately 22% of the total supply of unvested TNSR tokens will be burned as a result of the acquisition, with additional vesting tokens locked for three more years [5] Group 3: User Transition and Company Performance - Users of Vector will have until November 26 to transfer their assets, after which they will have four years to export their private keys [6] - Coinbase has made nine acquisitions this year, including a recent $375 million acquisition of crypto fundraising platform Echo [6] - Shares of Coinbase (COIN) are down about 2% on the announcement day but have increased over 31% in the last month, trading at $233 [7]