Polkadot (DOT) Trading to Be Launched on Coinbase Pro

UTC by Babafemi Adebajo · 2 min read
Polkadot (DOT) Trading to Be Launched on Coinbase Pro
Photo: Shutterstock

With this announcement, DOT joins about 50 other cryptocurrencies already listed on and supported by the Coinbase Pro platform.

“Trading of Polkadot (DOT) will begin on Wednesday, June 16,” says Coinbase Pro. The company announced this via a blog post on Monday, June 14, 2021, even as it announced that its users will from Monday be able to transfer DOT into their Coinbase Pro account. DOT is the native asset of the Polkadot blockchain and can be staked to create a secure network and connect new chains. According to the data from Coinmarketcap, DOT is up 12% in the last 24 hours and is currently trading at $24.79.

Once launched on Coinbase Pro, the company states that its platform will provide support for DOT across their jurisdictions except for Singapore. The only condition for launching will be that the coin meets its liquidity conditions. Already, Coinbase has begun allowing the inbound transfer of DOT to Coinbase Pro.

Once there is an adequate supply reached, “trading of DOT-USD, DOT-BTC, DOT-EUR, DOT-GBP, and DOT-USDT order books will launch in three phases; post-only, limit-only and full trading.”

Coinbase is committed to increasing economic freedom in the world and continues to add more crypto-assets to the platform to further this goal. This it does in response to customer requests for more assets. All assets are subjected to a strict review process. If it meets up, it is listed. The same strict guideline continues to be applied such that any listed order book that at any time fails to measure up to the assessment for a healthy market may have its trading suspended.

With this announcement, Polkadot joins about 50 other cryptocurrencies already listed on and supported by the Coinbase Pro platform. Some of those coins are Cardano (ADA), Dogecoin (DOGE), Enjin Coin (ENJ), Gitcoin (GTC), Polygon (MATIC), SKALE (SKL), and Tether (USDT) to mention a few. This is besides supporting order books and new digital tokens.

Currently, DOT is not available on Coinbase.com or via the exchange’s consumer apps. However, if past trends are anything to go by, the exchange usually adds listed assets to its retail platform weeks after launching them on the professional platform. Only DOGE turned out to be an exception.

“We will make a separate announcement if and when this support is added,” stated the company about the future of the asset on its trading platform.

Altcoin News, Cryptocurrency news, News
Babafemi Adebajo

An experienced writer with practical experience in the fintech industry. When not writing, he spends his time reading, researching or teaching.

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