Cryptocurrency exchange platform Coinbase Pro started trading in many ERC-20
Cryptocurrency exchange platform Coinbase Pro started trading in many ERC-20 tokens starting today, and most of them have received a bump on their listing on the exchange. The tokens include Civic (CVC), district0x (DNT), Loom Network (LOOM) and Decentraland (MANA) – all of which operate on the Ethereum network.
Coinbase announced in a post today that it had started accepting inbound transfers of the newly listed currencies. The company stated that it would begin trading once they acquire a certain threshold of liquidity. The limit was eventually reached hours before the press release, and the trading kicked off.
The company announced “These order books will now enter post-only mode. Customers can post limit orders, but there will be no matches. Order books will be in a post-only mode for a minimum of 1 minute.” Post-Only is the second stage in the company’s listing process. In the next step, Coinbase will begin matching limit orders for CVC, LOOM, MANA, and DNT. In the last stage, these Ethereum tokens will enjoy full trading services on the platform including market, limit, and stop orders.
After the announcement of the new listings was made public, the demand for each of the Ethereum based tokens reacted positively. As of now, the coins are undergoing corrections against the US Dollar and also surging against Bitcoin and Ethereum.
For example, DNT is experiencing steep correction after testing an aggregated high at $0.016321. The coin is currently trading at $0.015018, up 3.63%. At the same time, it has surged 8.66% against Bitcoin, currently trading at 432 satoshis.
MANA at the time of publishing is trading at $0.055860, more than 11% down. Against Bitcoin, the coin has dropped 6.6% lower, now trading at 1609 satoshis.
CIVIC and LOOM are doing somewhat better than MANA, however. While the CIVIC-to-USD rate now stands 4.62%, which is down at 0.056405, showing a slight increase in its price against Bitcoin with the amount currently at 1624 satoshis. Similarly, the current LOOM/USD rate is 0.047803, close to 3.5% down, but it is 1.5% up against BTC, now trading at 1377 satoshis.
Ripple (XRP), which has had a reputation for surging simply based on rumors didn’t experience a bump in this case, most probably due to Coinbase saying that it is “exploring” support for XRP.