Coinbase Adds Compound (COMP) – The Coin Surges 100% In A Few Days
The crypto market looks pretty bloody today with Bitcoin and a lot of other important coins trading in the red.
At the moment of writing this article, Bitcoin is priced at $9,308.14.
Coinbase adds a new digital asset
It’s been just revealed that Coinbase Pro users will have the ability to trade the Compound Token (COMP) starting next week.
The coin was launched this Monday, and it’s an Ethereum governance token for Compound, a decentralized lending platform.
The digital asset was able to skyrocket in price from about $93.00 to $165.85 – this is almost an 80% increase. Now, it surged even more.
According to the latest reports coming from the online publication the Daily Hodl, Coinbase Pro will begin accepting inbound transfers of COMP next Monday and start trading at 9:00 a.m. Pacific Time the following day, as long as liquidity conditions are met.
It’s been also reported that after that, the exchange will roll out more services for the token in these three additional stages:
“2. Post-only. In the second stage, customers can post limit orders but there will be no matches (completed orders). Order books will be in post-only mode for a minimum of one minute.
3. Limit-only. In the third stage, limit orders will start matching, but customers are unable to submit market orders. Order books will be in limit-only mode for a minimum of ten minutes.
4. Full trading. In the final stage, full trading services will be available, including limit, market, and stop orders.”
At the moment of writing this article, COMP is trading in the green and the digital asset is priced at $206.99.
The coin is up by more than 22.43% in the past 24 hours.
Other than this, it’s expected to see Bitcoin’s price boost soon and the rear all kinds of optimistic predictions that are popping up in the crypto space. One of the most popular ones claims that BTC will hit $100k.
CoinMarketCap is a website that provides cryptocurrency market cap rankings, charts, and more. It was purchased by Binance for $400M in 2020.
Coinbase is a digital currency exchange headquartered in San Francisco, California.
Eduard Watson Author
An experienced finance writer for more than 10 years, active industry watcher, and gadget enthusiast.