Celo explodes on Coinbase Professional itemizing announcement

Main U.S. cryptocurrency trade, Coinbase Pro, has introduced it’ll record the native token of blockchain platform Celo (CELO).

Different Celo markets have responded enthusiastically, with the coin gaining roughly 55% over each USD and BTC over the previous 24 hours as CELO rocketed into new all-time highs above $2.70. As of this writing, CELO is altering fingers for $4.45.

CELO/USDT – Bittrex – 1D: TradingView

Coinbase Professional will start accepting CELO deposits from August 31, with trading slated to begin from 9 am PT on September 1, topic to liquidity situations.

The trade will help 4 pairings for Celo, permitting clients to commerce CELO towards Bitcoin (BTC), USD, EUR, and GBP.

The markets might be launched over 4 phases, beginning with deposits solely, earlier than permitting merchants to fill the order books, enabling restrict order execution, and lastly shifting to full trading performance.

CELO’s explosive efficiency at this time appears at odds with evaluation performed by Coin Metrics in June that discovered the value influence of newly announced Coinbase Pro listings to be overstated — with freshly listed markets producing common worth performances of between -1% and +14% 20 after being introduced.

Coinbase Professional listings have equally comprised the catalyst for the meteoric price moves of Numeraire (NMR) and Band Protocol (BAND) earlier this month, which posted features of greater than 150% and 250% inside days of the listings’ bulletins.

Coinbase first mooted supporting Celo’s token in September 2019, when the trade introduced Celo as one in every of 17 yet-to-be-launched initiatives that it was contemplating itemizing.

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