Coinbase Pro Announces Listing Of Compound COMP DeFi Token

The United States based cryptocurrency exchange Coinbase Pro announces the listing of the DeFi token which is viral lately – the COMP cryptocurrency which is powering the decentralized lending protocol named Compound.

What we can see is that the crypto exchange Coinbase Pro recently announced the listing of COMP and noted that COMP trading will start on June 23 at 9 a.m. Pacific Time if all liquidity requirements are met. This way, users will be able to deposit their COMP tokens the day hours before any trading activity is scheduled to start.

A sufficient and really unspecified supply of COMP tokens made their way to Coinbase Pro which is how the exchange figured to progressively roll out the trading functionality for the tokens. We can notice that there will be two trading pairs including the token in question, namely the COMP to Bitcoin (BTC) and the COMP to US Dollars.

The latest cryptocurrencies news also share that these pairs will be available in post-only modes. In fact, limit orders will be allowed at some point afterwards. Once the firm’s expectations for what constitutes a healthy market are met by these pairs, full trading with market, stop and limit orders is expected to start.

For those of you who did not read our coming altcoin news, Compound COMP is an Ethereum based decentralized finance protocol which allows its users to borrow tokens or deposit them in exchange for interest. As the announcement of the project itself notes, COMP is not yet available on Coinbase.com” which could possibly mean that Coinbase announces the listing but it is not officialized yet.

However, all of this shows that Coinbase is one of the leading exchanges which is consistently following trends from the market and adopting new strategies for growth. In times when decentralized finance (DeFi) is something that is very buzzing in the industry, the exchange helps users make most of their Compound COMP tokens as one of the popular tokens in this category.

As of today, the price of Compound (COMP) is with a 84% increase, trading at $127.88 and being in an amazingly positive momentum. Obviously, the fact that Coinbase announces its listing helped this but there is no doubt that COMP is one of the best DeFi tokens in the crypto world.