Yahoo Finance Coinbase Pro increases fees in market structure update
Cryptocurrency exchange Coinbase Pro has continued to increase the amount of tokens being made available to trade on the platform by listing the EOS, REP, and MKR tokens on Monday. Coinbase listed Stellar Lumens (XLM) in March as well as 30 other altcoins including XRP and ADA in December. The gung-ho stance taken by Coinbase is certainly a different approach to the one it took in 2017, when only Bitcoin, Ethereum, Litecoin, and Bitcoin Cash were available to trade. According to an announcement on Monday, Coinbase revealed that deposits for EOS, Augur’s REP, and the MKR token are now open. Once “sufficient liquidity” is established, trading will open against USD, BTC, and EUR trading pairs. Inbound transfers for EOS, MKR
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US-based crypto exchange Coinbase is “implementing a set of changes to further optimise the market health of our platform,” it announced in a Medium post.
The aim is to increase liquidity, enable better price discovery for trades, and to make price movements smoother, with changes including a new fee structure, turning off stop market order and adding market order protection points.
XLM
Earlier this week, we reported that Stellar Lumens (XLM) had officially been listed on Coinbase Pro. XLM, which is the seventh-largest cryptocurrency in terms of market cap, will not yet be available on the Coinbase retail platforms including Coinbase.com and the mobile apps.
Stellar was launched in 2014 by Ripple Co-Founder Jed McCaleb, with all XLM tokens being premined. Coinbase claims that: “Stellar aims to connect banks, payment systems, and individuals quickly and reliably. Since its launch in 2014, its vision has been to unite the world’s financial infrastructure so that money can flow quickly and cheaply between banks, businesses, and people. The internet connected the world’s computers so that information could be shared globally. Stellar aims to do the same for money.”
Despite being cautious in 2017 by only listing Bitcoin, Ethereum, and Litecoin, Coinbase has been exercising a gung-ho attitude of late, with the likes of Loom Network, MANA, XRP, Dai, Golem Network, and Zilliqa all finding their way onto the exchange.
This change in approach could suggest that regulatory pressure is waning, which would tie in with SEC chief Jay Clayton’s recent statement confirming that Ethereum “is not a security.”
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