The latest Coinbase news feature one kind of a surprise move for many traders where the cryptocurrency Cosmos (ATOM) was officially rolled out. Since Monday, January 13, the exchange offers ATOM to any Coinbase Pro accounts and users. Now that Coinbase officially decided to bring support for this cryptocurrency, transfers are expected to take place during office hours only.
In an official blog post on Coinbase Pro, the exchange announced that starting from January 13, 2020, ATOM inbound transfers will be accepted for a minimum of 12 hours before the beginning of full trading. The schedule also states that trading will begin at 10:00 PT if enough ATOM is accumulated.
If this is the case, trading will commence over a series of stages. In the first one, only posting is enabled. In the second one, full trading can begin if the available metrics promise that the market will be both favourable and profitable.
As Coinbase officially said, the supported trading pairs include ATOM/BTC and ATOM/USD but the exchange is planning to list a lot more assets at some point soon. The announcement also states that the ATOM coin can be accessed in all of the regions of the world where Coinbase is present. However, the exchange also notes that ATOM staking is still not an option.
The ATOM launch as Coinbase officially puts it is scheduled to occur over a series of stages. All of this was planned so that the entire process can be carried out orderly and healthy trading can occur at all stages without panic. The exchange can decide to prolong the stay of assets in a single stage or multiple stages and can suspend trading at any time if it thinks that this is necessary. All of these steps will help Coinbase assume and regain control quickly if the market is deemed to be chaotic.
Before the ATOM launch, the exchange caught the attention of many by promising that there would be a slew of standard assets on the platform. There are many reasons to think that this promise will be met at some point in the future – and very soon.
In today’s crypto news from the market, we can see that Cosmos (ATOM) is trading at $4.44 with a 7% decline on the day after the downward move on the market.
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