- Coinbase has finally launched Dogecoin trading.
- The exchange offers $ 1.2 million in assets to clients as part of the launch .
Earlier last month, Brian Armstrong, CEO of Coinbase disclosed the intention of the exchange to list the most popular coin, Dogecoin. This followed the recent impressive run of the digital asset and how other exchanges have gained the competitive edge from its high volume of trading.
In the latest development, Coinbase officially listed Dogecoin. As part of the launch, Coinbase is ceding $ 1.2 million in assets to customers.
As of June 3, inbound transfers from Doge have been allowed to Coinbase Pr o. According to Coinbase , trading on Doge-USD, Doge-BTC, Doge-EUR, Doge-USDT and Doge-GBP are launched in three phases since there is sufficient supply on the platform. The phases are post-only, limit-only and full-trading.
Armstrong previously revealed that adding assets is a top priority for Coinbase. For this reason, they strive to speed up the pace of asset listing on the platform. He admitted that they have been slow to keep up with the many assets added daily to the crypto economy.
How to enter the contest
To have a chance to win, participants must first purchase or Sale of at least $ 100 of Dogecoin on Coinbase before June 6, 2021. The first winner will receive $ 300,000 of Doge. In addition, 10 other winners will each receive $ 30,000 from Doge, then 6,000 winners will also receive $ 100 from Doge each. The winners will be contacted from June 17th. The contest is limited to one entry per person. Multiple entries will not increase the chances of winningaccording to Coinbase.
It should be noted that Dogecoin trading is not yet activated at Coinbase.com.
Dogecoin price reaction
As expected, the announcement created positive sentiment in the market , pushing the price to a 24-hour high of $ 0.42. However, the price fell 13% from its daily high to trade at $ 0.36. Some investors are still bullish on Doge.
Trading volume remains down 28% over the past 24 hours with market dominance of 2.8%.