Coinbase Lists a New Altcoin
According to the announcement dated June 18, when the liquidity requirements are fulfilled, COMP trading will begin on June 23. In addition, users will be able to deposit their deposits before the start of COMP trading activities.
After the COMP tokens are listed on Coinbase Pro after sufficient COMP supply, the stock market will gradually open the trading function for tokens. It will be possible to trade with COMP / BTC and COMP / USD pairs.Limited orders will be allowed after a while. Once the firm’s expectations are met by trading pairs, a sales order and limited orders will begin.Compound is an Ethereum-based decentralized finance protocol that allows users to borrow tokens or deposit money for interest. The announcement says COMP is not yet listed on Coinbase.com, which implies that Coinbase will list the token.
Altcoin price jumped
COMP, which has been trading at $ 60 for a long time, increased by 100% within an hour with the listing. Altcoin, rising up to $ 144 levels, is trading at $ 125.61 at the time of writing.
On the other hand, some users call the price “absurd” , with COMP doubling the market value of Maker, another Ethereum-based DeFi’s leading protocol.
I must say though… Listing on a completely illiquid market to pump the price up on thin books and then listing on Coinbase days after is a pretty creative offload strategy. Zora drop with a cherry on top with Coinbase to supply the plebs
— Larry Cermak (@lawmaster) June 16, 2020