Today we have great news to share when it comes to Coinbase Pro. Stellar Lumens has become the newest cryptocurrency token to be listed on the Coinbase Pro exchange. Coinbase announced the news this Wednesday on March 13, that it is accepting deposits of XLM and will continue to open up trading support once they have reached sufficient liquidity. Just before we dive straight into the content, if you like our videos and want to keep updated with the Crypto Space, please hit the like and subscribe button for daily news videos with CryptoPig!
According to Coinbase’s Blog, support for XLM will be immediately available in Coinabse’s supported jurisdictions with the exception of New York. Other jurisdictions may be added at a later date. Now once sufficient supply of XLM is established on Coinbase Pro, trading on the XLM and USD pair, XLM and EUR and XLM and BTC order books will begin in certain phases. It will start with a post-only mode and then move towards full trading if the metrics for a healthy market are there. Just to be clear XLM is not yet available on Coinbase.com or consumer mobile apps. If and when this occurs, Coinbase will make a separate announcement.
Now there are four stages to the XLM Launch. If at one point, the new order books do not meet Coinbase’s assessment for a healthy and orderly market, they may keep the book in one state for a longer period of time. Coinbase Pro’s primary means of mass communication is via their Twitter account, so make sure you stay tuned on Twitter to keep updated.
For those who aren’t aware, The Stellar Lumen (XLM), Stellar’s cryptocurrency for the Stellar payment network, is currently ranked as the 8th top cryptocurrency when it comes to market capitalization. XLM’s market cap currently sits at $2 billion, while a token is valued at 11 cents. Stellar originally launched in 2014 with the aim to connect banks, payments systems, and individuals quickly and reliably. So if the internet connected the world’s computers so the internet could be shared all around the world, Stellar’s vision is to do the same, but for money.
So what are your thoughts on this situation guys?
Do you think that it’s great Coinbase Pro selected Stellar Lumens as the next cryptocurrency token?
Or do you think they should have selected another altcoin?
Let me know what you guys think in the comments below!
It’s Cindy with CryptoPig. Catch you guys around