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Stellar Lumens Added to Popular Exchange Coinbase Pro
Just roughly a week after adding Ripple's XRP to the platform, Coinbase Pro added another cryptocurrency to their line-up. The exchange made an announcement on Twitter earlier today, confirming that Stellar Lumens will be added.
As per the post:
"XLM/USD, XLM/EUR, and XLM/BTC order books will soon enter transfer-only mode, accepting inbound transfers of XLM in supported regions. Orders cannot be placed or filled. Order books will be in transfer-only mode for a minimum of 12 hours."
The Stellar Lumens team seemed very pleased with the announcement & made Tweeted back.
"blog.coinbase.com/stellar-lumens-xlm-is-launching-on-coinbase-pro-d5a12c869ccd â¦ Coinbase is by far the most reputable exchange in the industry. A listing there is a rite of passage for any project. We think this is a huge step for the Stellar network."
Coinbase faced consumer outrage and boycott for the acquisition of Neutrino and #DeleteCoinbase trended recently on Twitter. Despite all this, the exchange shows no signs of losing steam. Other than Ripple's XRP, many other cryptocurrencies have been added recently to the platform. This includes Basic Attention Token (BAT), Zcash & Ethereum Classic.
It seems that Coinbase is doing more than just maintaining its position as the #1 crypto exchange in the United States. It might even overtake Binance in the future, as long as they avoid negative press.
How Do the Markets React?
Whenever a coin or token gets listed on a popular exchange, its value jumps as well as its market cap. The value of Stellar Lumens has reacted positively to the news and has grown 6.98% as per now. One can expect that this addition to Coinbase will continue to consolidate Stellar Lumens position one of the top ten cryptocurrencies.