Dogecoin fan users can now begin to deposit their favorite coins in their CoinBase Pro accounts. Trading starts tomorrow.
Commercial operations will start next Wednesday whenever there is enough liquidity.
Coinbase Pro Announces Dogecoin Listing.
Coinbase made the announcement in a post published on his official blog. They noted that interested users could start transferring doge to their accounts, so commercial operations will be fully operational from next June 3, provided that the service counts on the necessary liquidity to make trading smooth.
The news comes weeks after Coinbase CEO Brian Armstrong reported that it was among his plans to list Dogecoin within the available digital currencies for trading operations, especially according to the interest shown by the exchange customers and community enthusiasts. Even Teslas's CEO, Elon Musk, invited the platform managers to step ahead and make available the mechanisms so that those interested in Dogecoin could trade it through their service.
According to information published by Coinbase, you will be able to trade the digital currency using US dollars, euros, sterling pounds, Tether (USDT), and Bitcoin (BTC). They will offer more trading pairs progressively according to Doge trading demand.
Dogecoin reacts favorably
After the announcement made by CoinBase, the price of Dogecoin reacted positively during the afternoon of June 1. It recorded values close to $0.34 per unit, surging 7.14% in the last 24 hours.
For many people, if a significant Exchange as CoinBase decides to list a specific cryptocurrency in any of its two services guarantees that this can have a better price evolution. Primarily due to the amount of available capital that circulates through the service and because it is one of the few exchanges offering crypto trading in American territory.
Keep in mind that Coinbase has also been the platform through which various large-scale companies and investors have allocated capital to acquire cryptocurrency. Such is the case of companies such as Tesla and MicroStrategy with Bitcoin.
Although many consider Dogecoin as a joke within the ecosystem of digital currencies, the truth is that this crypto coin has become a large market actor in recent months. It records a global market capitalization of $44,000 million and stands seventh in the largest-cap crypto ranking.