Dogecoin is listed on several exchanges but was not available to clients of the USA. Now that Coinbase Pro lists dogecoin, it can be traded in Dollar, Euro, Pound, Bitcoin, and USDT.
The most popular cryptocurrency exchange in the United States, Coinbase, announced on Tuesday night 1st June 2021, the listing of Dogecoin on its professional trading platform.
The announcement was published on Coinbase’s official blog, where it indicates that investors interested in the digital asset, can already start transferring DOGE to their accounts.
Trading will begin on Thursday, June 3rd 2021, when the platform has the necessary liquidity to meet user demand.
The listing came weeks after Coinbase CEO Brian Armstrong said it was among the company’s plans to list Dogecoin and other altcoins. Even Elon Musk, Tesla’s CEO, asked the platform’s directors to list the digital asset.
On the Coinbase Pro platform, Dogecoin can be traded in Dollar, Euro, Pound, Bitcoin, and USDT. As usual, the cryptocurrency is not yet available on the Coinbase.com retail portal.
Since Coinbase’s announcement, DOGE’s price has risen 7%. That might not sound like much when you consider the recent volatility of cryptocurrency, but the digital currency today is the one that has performed the best amid a falling market.
For several market investors, the fact that a brokerage firm the size of Coinbase decides to list a certain cryptocurrency in either of its two services is a guarantee that it will be able to have a better commercial evolution, mainly due to the volume circulating on the platform.
The new listing will help increase the currency’s liquidity as many US investors enter the cryptocurrency market through Coinbase.
Although many consider Dogecoin a joke, the truth is that cryptocurrency has become a huge market in recent months. It currently ranks seventh on the list of largest cryptocurrencies by total market value, with a capitalization of $45 billion.
“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.
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