Polkadot's DOT cryptocurrency will be traded on Coinbase Pro beginning June 16.
Major Updates
- Polkadot's DOT cryptocurrency will soon be available on Coinbase.
- The exchange is now accepting deposits as of today, Monday, June 14. Trading will begin on Wednesday, June 16.
- DOT is a significant addition to the exchange because it is a top-ten coin.
So far, here's what we know
It's also worth noting that DOT will not begin trading until Wednesday, June 16th, assuming the liquidity standards are met, which they most likely will be. Except for Singapore, DOT will be available in countries where Coinbase is permitted.
“We will immediately begin accepting inbound DOT transfers to Coinbase Pro. Trading will begin on or after Wednesday, June 16, at 9 a.m. Pacific Time (PT) if liquidity criteria are met.” – The announcement is read.
Coinbase is the largest cryptocurrency exchange in the United States and one of the largest in the world. Naturally, a listing of this magnitude encourages more positive price movements. Since the announcement, the price of DOT has risen by a whopping 15% to $25.550. (on KuCoin).
Coinbase emphasizes its reasons for listing DOT even more
“Once we have a sufficient supply of DOT on the platform, trading on our DOT-USD, DOT-BTC, DOT-EUR, DOT-GBP, and DOT-USDT order books will begin in three stages: post-only, limit-only, and full trading. If, at any point, one of the new order books fails to meet our criteria for a healthy and orderly market, we may keep the book in one state for a longer period of time or suspend trading in accordance with our Trading Rules,” the exchange stated.
Conclusion
Polkadot is a piece of software that attempts to encourage a global network of computers to run a blockchain on top of which users can create and run their own blockchains. Polkadot is thus one of a number of competing blockchains attempting to build a cryptocurrency ecosystem, with notable examples including Ethereum (ETH), Cosmos (ATOM), and EOSIO (EOS).
Question of the day
Are you holding DOT planning to buy some soon?
