Coinbase Pro platform has listed XLM following the successful implementation of four initial phases of Coin introduction on the platform as per the set standards. In this regard, Coinbase traders can start ordering XLM/BTC, XLM/GBP, and XLM/EUR pairs.
The service is available in supported jurisdictions with the exception of the state of New York. However, the service is not provided on Coinbase mobile apps and Coinbase.com.
The XLM support comes shortly after the listing of Ripple’s XRP that has since increased adoption of the Digital Token. XRP is now the third largest Cryptocurrency behind Bitcoin and Ethereum.
Details About The Service Launch
Coinbase Crypto exchange has a rigid procedure of listing Digital Tokens. The process is done in four stages that are designed to introduce the Coin in the platform and to create a portfolio that can support trading between buyers and sellers.
The first stage is the initial deposit that establishes an XLM portfolio to support trading. The stage lasts for the first 12 hours.
The second stage is the post-only mode. The essence of this process is to allow users to post their orders. It is important to note that the stage does not match these orders. The post-only mode lasts for a minute.
Thirdly, the limit-only stage matches the orders on the second part with what is on offer in the platform. During this stage, some orders are usually put on hold as the platform systematically adjusts to match the orders. The average time frame for the limit-only stage is 10 minutes.
Lastly, the final stage is full trading that entails stop orders, limits, and market pairs.
Stellar Is Of The Same Kind With XRP
Stellar is similar to Ripple as they both have a focus of enhancing payment efficiency. The Stellar payment network is powered by XLM that the project uses to facilitate cheaper and easy to use funds transfer solutions.
Additionally, like Ripple, Stellar also is aiming to liaise with individuals, businesses, and banks to establish secure payment connections within the Stellar Ledger ecosystem. Within the platform, sending funds is expected to be as simple as “sending an email”.
There Are Plans To List Additional Cryptos
The test of time usually proves whether new Digital Tokens are scams or otherwise. This is the logic that Coinbase uses by taking time before listing new Cryptos. For this reason, the US-based Crypto exchange is on track to listing more Coins to spur adoption.
XLM Price Is Bullish
Coinbase is one of the leading Crypto exchange platforms and experts are confident that the new support will not only increase adoption of XLM but also trigger the much-anticipated bull run.
Following the listing of XLM, the 19,215,591,746 XLM in circulation have appreciated by over 4% in the last 24 hours. A Token is now priced at $0.107816 and the market cap has hit $2,071,751,537.
The CEO of Coinbase, Brian Armstrong, has in the past promised to develop Coinbase into a platform that offers the best liquidity services to Crypto holders.