Home CryptoCurrency News Coinbase Lists Celo, Coin’s Price Surges 10% after Listing

Coinbase Lists Celo, Coin’s Price Surges 10% after Listing

Coinbase, San-Francisco-based leading cryptocurrency exchange and wallet provider, continues to ramp up the number of altcoins available for trading on its platform.

In a blog post published on Thursday, September 3, Coinbase announced that it had temporarily listed CELO under the ticker symbol CGLD instead of original symbol CELO. The coin is available on Coinbase.com and in the Coinbase Android and iOS apps for trading. CELO is available to all Coinbase-supported regions where customers can sell, convert, send, receive, or store CGLD.

The news follows the CELO listing on Coinbase Pro last week. CELO is now available on Coinbase Pro with trading pair CGLD-USD, CGLD-BTC, CGLD-EUR and CGLD-GBP.

The exchange appears to be prioritizing support for tokens for projects in which it is invested. Coinbase also invested in CELO platform in 2018 through its venture arm called Coinbase ventures.

Coinbase announcement reads:

“Coinbase is listing Celo under the CGLD ticker symbol. This is temporary and does not affect the asset or participation in on-chain governance activities such as voting. You will be able to send and receive CELO or CGLD, as they are the same asset.”

coinbase

Coinbase regularly announces a new set of assets that are explored before listing on the exchange. CGLD was included in a list of exploratory assets in 2018 along with Avalanche, Chia, Coda, Dfinity, Filecoin, Handshake, Kadena, Mobilecoin, NEAR, Nervos, Oasis, Orchid, Polkadot, Solana, Spacemesh, and Telegram. After a significant technical and compliance review, Celo is now finally listed on Coinbase.

Coinbase has also added CELO to Coinbase Earn where customer can earn $6 worth of CELO by watching short videos, answering easy questions, and telling friends.

The listing has triggered a 10% surge in the coin’s price. Following the announcement, CELO price surged 32%, from $3.46 to a new all-time high of $4.50 in just two hours. The price then dipped back to $3.86. According to CoinMarketCap, the current price of token is $4.18 with 10% increase in last 24-hours.

Coinbase regularly announces new a new set of assets to list all assets that meet it standards against its Digital Asset Frame and are compliant with local laws. In 2018, the exchange announced an Asset Listing Process to rapidly list new coins, tokens, and stablecoins. The selected projects are also listed on Coinbase Earn where users can educate themselves about the projects.


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Atiq Ur Rehman
Atiq Ur Rehman
Electronics Engineer with a passion to write about Disrupting Technologies like Blockchain. He joined Crypto-Economy in July 2019.
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