17 April 2021
Coinbase Pro has announced that the major crypto exchange will be launching support for 1inch, Enjin Coin, NKN, and Origin Token. Users will be able to transfer these tokens to their Coinbase Pro account before trading, which is expected to begin on April 9 if the “liquidity conditions are met.”
Once a sufficient supply of these tokens is established on the platform, all of them can be traded against Bitcoin, the U.S. dollar, the Euro, and the British Pound. The order books will be launched in 3 phases: post-only, limit-only, and full trading.
“If at any point one of the new order books does not meet our assessment for a healthy and orderly market, we may keep the book in one state for a longer period or suspend trading as per our Trading Rules,” the official announcement states.
Recent Coinbase listings include Cardano, Ankr, Curve DAO token, and Storj. Cardano had seen a price spike of 36% when the crypto exchange announced the listing of ADA token on March 16. Similarly, even the price of 1inch, Enjin Coin, NKN, and Origin Token have witnessed a massive price surge and become the latest beneficiaries of the “Coinbase Effect.”
At press time, each altcoin’s price has risen by more than 20%, 30%, 80%, and 35%, respectively.
Disclaimer: The author’s views and opinions are for informational purposes only and do not constitute financial, investment, or other advice.