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11 December 2018 at 05.00
| updated:
11 December 2018 at 05: 00 & nbspUTC
Cryptocurrency Exchange Platform Coinbase Pro has started trading in many ERC-20 tokens since today, and most of them received a bump on their stock exchange listing. Tokens include Civic (CVC), district0x (DNT), Loom Network (LOOM) and Decentraland (MANA) – all operating on the Ethereum network.
Coinbase announced today in a post that had started accepting incoming transfers of the currencies just listed. The company stated that it would start operating once a certain liquidity threshold has been acquired. The limit was finally reached hours before the press release, and trading started.
The company announced, "These order books now go into post-it mode only." Customers can send limit orders, but there will be no correspondence, order books will be in post-only mode for a minimum of 1 minute. " -Only is the second phase of the company's listing process. In the next step, Coinbase will start matching the limit orders for CVC, LOOM, MANA and DNT. In the last phase, these Ethereum tokens will enjoy full trading services on the platform including the market, limit and stop orders.
After the announcement of new listings has been made public, the demand for each of the Ethereum-based tokens has reacted positively. As of now, the currencies are undergoing corrections against the US dollar and also rising against Bitcoin and Ethereum.
For example, DNT is undergoing a steep correction after testing an aggregate maximum at $ 0.016321. The currency is currently trading at $ 0.015018, up 3.63%. At the same time, it rose 8.66% against Bitcoin, currently trading at 432 satoshi.
MANA at the time of publication is trading at $ 0.055860, over 11% less. Against Bitcoin, the currency fell 6.6% less, now exchanges to 1609 satoshi.
CIVIC and LOOM are doing a little better than MANA, however. While the CIVIC-to-USD rate now stands at 4.62%, which fell to 0.056405, showing a slight increase in its price compared to Bitcoin with the amount currently at 1624 satoshis. Likewise, the current LOOM / USD rate is 0.047803, close to 3.5% down, but it is 1.5% compared to BTC, now trading at 1377 satoshi.
Ripple (XRP), which had a reputation for rising simply by relying on rumors, did not have a bump in this case, most likely due to the fact that Coinbase is "exploring" XRP support.
Debarun Gupta
Debarun is currently pursuing a degree in economics and writing when he is not watching cat videos on YouTube.
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