Coinbase Pro Dogecoin Deposits Now Open — Trading Begins on June 3
The notorious dogecoin will be open for trading on Thursday, June 3, on the popular trading platform Coinbase Pro. In mid-May, Coinbase CEO Brian Armstrong revealed the meme-inspired crypto asset would be listed in six to eight weeks. It only took 18 days to get dogecoin added to Coinbase Pro but the coin is not yet added to the consumer application Coinbase.com.
Coinbase Pro Opens the Dogecoin Gates
Crypto traders can start depositing dogecoin (DOGE) to their Coinbase Pro accounts today, according to a blog post published on Tuesday. If liquidity conditions are met, trading will begin on June 3 at 9 a.m. (PT).
Coinbase notes during the announcement that it takes great care toward looking at crypto assets that meet its standards. The exchange recently added support for tokens like 1inch (1INCH), enjin coin (ENJ), internet computer (ICP), cartesi (CTSI), and iexec (RLC).
Coinbase Pro will tweet about the dogecoin order book moves in phases. “Once sufficient supply of DOGE is established on the platform, trading on our DOGE-USD, DOGE-BTC, DOGE-EUR, DOGE-GBP, and DOGE-USDT order books will launch in three phases,” Coinbase notes.
“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,” the company’s announcement details.
Coinbase also summarizes what dogecoin is in a small paragraph and notes that it features the Shiba Inu logo. “Unlike Bitcoin, which is designed to be scarce, Dogecoin is intentionally abundant — 10,000 new coins are mined every minute and there is no maximum supply,” Coinbase explains in the blog post.
DOGE has had a phenomenal 2021, as the crypto asset is up 561% over the last 90 days and 12-month stats show dogecoin gained 12,506%. The meme-inspired currency has dropped in value, like many other coins in recent times, after touching an all-time high 25 days ago.
At that time, a single DOGE was exchanging hands for $0.737 per unit. Dogecoin has since dropped 53.73% in value to $0.341 per unit, according to today’s exchange rates.
What do you think about dogecoin getting added to Coinbase Pro? Let us know what you think about this subject in the comments section below.
