Ethereum-based tokens rally versus BTC on Coinbase

Ethereum-based tokens rally versus BTC on Coinbase
Dec 11, 2018 by Rico Wise

CVC, DNT, LOOM, and MANA, all ERC20-based coins, were introduced by the Coinbase cryptoexchange which announced providing services for the said currencies. The San Francisco-based exchange stated that as soon as the assets gain sufficient level of liquidity, they would initiate trading. A few hours prior to the time of writing, the cryptoexchange has released a confirmation, claiming that the aforementioned threshold had been reached, facilitating the commencement of provision of trading services for the currencies.

This signifies the so-called Post-Only phase of overall enlisting procedure, according to Coinbase. The following steps would see Coinbase starting to match limit orders for the aforementioned 4 currencies. And in the final phase, complete cryptotrading services will become accessible for the ERC20-based coins, such as limit, market, and stop orders.

Last Friday, upon the Coinbase’s news about adding the Ethereum-based coins to its cryptotrading network, each of the four cryptomarkets presented a positive reaction, recording significant rallies over the rest of the cryptoexchanges. As of today, all of the said coins are experiencing quite harsh corrections versus USD, however, most of them managed to rise in value versus BTC and ETH.

Ripple, with its long history of recording value gains just on the hearsay about the upcoming Coinbase listing, did not record a similar spike after the cryptoexchange claimed to be “exploring” support for the XRP coin.