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Coinbase Pro to Accept Inbound Transfers of Dogecoin (DOGE)

UTC by Oluwapelumi Adejumo · 3 min read
Coinbase Pro to Accept Inbound Transfers of Dogecoin (DOGE)
Photo: Depositphotos

Besides Dogecoin, other recently listed assets supported and listed for trading on Coinbase include Internet Computer (ICP), Mirror Protocol (MIR), Tellor (TRB), Tether (USDT), and others.

Coinbase has declared that it is going to be accepting “inbound transfers of Dogecoin (DOGE) to Coinbase Pro. Trading will begin on or after 9am Pacific Time (PT) Thursday June 3, if liquidity conditions are met.”

According to the crypto exchange, this development became necessary as its clients have increased their demands to get exposed to more crypto assets for trading. This necessitated the addition of several projects to its platform.

The publicly listed crypto firm also went on to state that the meme coin will be traded alongside other currencies like USD, BTC, EUR, USDT and GBP. While also revealing that “order books will launch in three 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 of time or suspend trading as per our Trading Rules.”

Per the Coinbase announcement, trading the meme coin would still be “unavailable on Coinbase.com or via our Consumer mobile apps.” The firm stated that it would be making a separate announcement to inform its users about any new development.

This announcement comes a few weeks after the firm’s investor call, where Brian Armstrong mentioned Doge as part of the asset that is gaining traction. In his words “there are more and more assets being created in the crypto economy, one of those is Doge which has been getting a lot of attention recently.”

It is worth noting that Elon Musk has consistently contributed to the surge in the value of the asset. Musk has consistently used promotional tweets and personal investment to push more traders to the asset thereby allowing it to gain more traction. One of his most recent tweets, “working with doge devs to improve system transaction efficiency,” hiked the price by 20%.

In the last 24hours, the price of the asset has surged by over 5%, and it is currently trading at $0.34. It has a market cap of over $40 billion which ranks it as the sixth-largest crypto asset.

Besides Dogecoin, other recently listed assets supported and listed for trading on Coinbase include Internet Computer (ICP), Cartesi (CTSI), iExec (RLC), Mirror Protocol (MIR), Tellor (TRB), Tether (USDT), Ampleforth Governance Token (FORTH),1inch (1INCH), Enjin Coin (ENJ), NKN (NKN), Origin Token (OGN), Ankr (ANKR) Curve DAO Token (CRV), Storj (STORJ), Cardano (ADA), SushiSwap (SUSHI), Polygon (MATIC), SKALE (SKL), and The Graph (GRT).

Altcoin News, Cryptocurrency news, News
Oluwapelumi Adejumo

Oluwapelumi is a believer in the transformative power Bitcoin and Blockchain industry holds. He is interested in sharing knowledge and ideas. When he is not writing, he is looking to meet new people and trying out new things.

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