Coinbase Pro Announces Support For Stellar Cryptocurrency
The American trading platform Coinbase Pro has added the Stellar Lumens (XLM) cryptocurrency to the listing. Trading is conducted in pairs with bitcoin, US dollar, and euro, as follows from the company's blog.
The option of making deposits became available to the customers of the exchange immediately after the announcement was made. Trading started in phases twelve hours after accumulating a sufficient XLM amount as part of the usual practice of Coinbase.
XLM is available for trading in all jurisdictions supported by Coinbase, except for NY. The list of regions will be expanded in the future. The trading platform warns users that the opportunity to trade Stellar Lumens on the Coinbase.com platform and in mobile apps is not yet available, but it will become possible soon.
Stellar crypto platform is a payment network that unites various banks, payment systems, and individuals. Since its launch in 2014, Stellar’s goal has been to create a unified financial infrastructure for fast and cheap money transfers.
After adding Stellar to the Coinbase Pro listing, the price of the cryptocurrency increased by 6%. In general, the price of Stellar rose by 22% over the last week and amounted to $0.109185 on March 14 at 05:30 (UTC), according to CoinMarketCap. In terms of capitalization ($2.09 billion), the cryptocurrency reached the 7th position in the ranking, shifting Binance Coin one position.
As previously reported, Grayscale Investments has launched the Grayscale Stellar Lumens Trust, which allows investors to trade securities the value of which is pegged to Stellar (XLM).