Maker (MKR) will be available for trading on Coinbase from Tuesday, June 9th.
According to an announcement this Friday (29), Coinbase Pro will begin accepting deposits for Maker tokens (MKR) on Monday, June 8. Full trading is scheduled to start at 9am Pacific Time on Tuesday, June 9th, when there will be sufficient liquidity on the platform.
The exchange says it will open trading pairs, MKR-USD and MKR-BTC in phases.
In April 2019, Coinbase Pro added cryptocurrency support for traders in some jurisdictions. However, full trading was not activated due to liquidity problems, as the books failed to meet the exchange’s metrics for a healthy market.
As usual, support for MKR on Coinbase Pro for the second time will go through four stages, which, according to the platform, include “transfer only”, “post only”, “limit only” and “complete negotiation”.
The first two stages will allow traders to deposit MKR into their Coinbase Pro accounts and then place limit orders. On the other hand, the last two phases will allow users to fulfill limited orders and start the complete MKR negotiation on the platform.
New York traders are off the charts
MKR trading on Coinbase Pro will be available to traders in all jurisdictions supported by Coinbase. However, New York residents are outside the new listing. The exchange did not say whether that would change later.
The state of New York has been described as a rigid model for crypto regulations because of its strict policies for such businesses, especially trading platforms. Over the years, the New York Department of Financial Services (NYDFS) has proven that it is always on the lookout for those who may violate regulatory procedures.
Maker (MKR) values 50%
Coinbase Pro is the second largest cryptocurrency exchange in the world, according to Coinmarketcap’s list of 342 exchanges. The professional trading platform is below Binance, with a trading volume of $ 23 million in 24 hours, according to data from CoinGecko.
Maker (MKR) is the 26th largest cryptocurrency in the world by market capitalization, according to the CMC ranking. The addition of MKR to Coinbase Pro after a first failed attempt is a milestone for the project, and the value of the coin has increased significantly after the announcement.
So far, the MKR is trading at $ 525, which represents an increase of almost 50% on the daily chart. The currency’s market value has now increased to $ 465 million.