Coinbase Exchange has finally warmed up to Dogecoin (DOGE), the fun-themed digital currency by listing it in Coinbase Pro. The company announced this news on June 1, noting that it began accepting DOGE deposits immediately after listing. Like other coins, the Shiba Inu-inspired cryptocurrency will have to wait until the liquidity conditions are met.
According to the announcement, trading should start tomorrow at 4:00 pm UTC, provided there is a sufficient supply of DOGE on the platform. DOGE will have four trading pairs. These are DOGE / USD, DOGE / BTC, DOGE / EUR, and DOGE / USDT. However, these pairs must go through the post-only, limit-only, and full trading stages of the exchange before being available.
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If any order book doesn’t meet the exchange’s test for a healthy and organized market, Coinbase said it would have to either keep it in a longer stage or suspend it altogether. To keep customers updated, Coinbase said it would post updates to Coinbase Pro’s Twitter handle as the order books go through different phases.
Since this list is strictly intended for professional traders, DOGE will not be available on Coinbase.com or the exchange’s consumer apps. However, Coinbase noted that it would make a separate announcement if it decided to allow all customers to trade DOGE.
DOGE posts double-digit earnings after listing
As usual after Coinbase lists a cryptocurrency, the coin wins due to the effect of gaining support from one of the largest cryptocurrency exchanges in the world. DOGE was no exception, as the coin posted double-digit gains despite the persistent downtrend in the cryptocurrency market.
At the time of writing, DOGE / USD is up 18.19% in the last 24 hours to change hands at $ 0.3939 (£ 0.2786). By comparison, Bitcoin (BTC), the leading crypto by capitalization, has only managed to rise 1.12% over the same period to trade at $ 37,192.58 (£ 26,310.96). Ether (ETH), the second-largest cryptocurrency, has also gained marginally to trade at $ 2,685.18 (£ 1,899.09).
This news comes after Coinbase CEO Brian Armstrong previously announced that Coinbase would be listing DOGE. At the time, he said the exchange was looking to accelerate the adoption of more digital assets while on the way to becoming the App Store for cryptocurrencies.
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