The currency “MKR” rises by 50% after it was listed on one of the exchanges
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Answer The currency “MKR” rises by 50% after it was listed on one of the exchanges
Among the factors affecting the rise of the digital currency is the announcement of its inclusion in one of the famous and large trading platforms such as: Binance, Coinbase, and the impact varies from one platform to another and according to the currency itself.
The Coinbase Pro trading platform announced the support for the Maker DAO coin, bearing the symbol “MKR”, and its listing on the platform for trading, after there was a previous failed listing attempt that occurred in April 2019.
The date of listing the MKR coin on the “Coinbase Pro” platform:
According to announce Coinbase Pro The platform will start accepting MKR deposits from users on June 8, while full trading is scheduled to start on the next day, June 9 at 2 am UTC.
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The Coinbase Pro platform indicated that it will open the MKR-USD and MKR-BTC pairs for trading on the platform in stages, ending with the full trading after all criteria are met.
As we mentioned above, Coinbase Pro in April 2019 attempted to list MKR but failed due to liquidity issues, as the coin’s trading requests failed to meet the platform’s metrics.
So the platform decided to try to list it again according to four stages: “Accepting the currency deposit only”, then “Accepting trading requests”, “providing it for limited trading” and finally “Full trading”.
The first two phases will allow traders to deposit MKR into their Coinbase Pro accounts.
On the other hand, the last two stages will enable users to match limit orders and start full MKR trading on the platform.
Currency is available to trade for everyone except residents of New York State:
MKR trading on Coinbase Pro will be available to merchants in all Coinbase supported US jurisdictions.
However, New Yorkers are exempted from trading the newly listed currency, and the platform did not say whether the measure was a temporary or permanent measure.
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The state of New York is an example and a model for representing strict regulations towards cryptocurrencies, especially towards trading platforms.
MKR coin value increased by 50%:
Coinbase Pro is the second largest cryptocurrency exchange in the world, according to Coinmarketcap, which lists more than 342 exchanges.
Trading platform Binance ranks first, and MKR has traded $23 million in the last 24 hours, according to data. Queen Gekko.
MKR is the 26th largest cryptocurrency by market capitalization according to the Coinmarketcap ranking.
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The addition of MKR to Coinbase Pro after the first failed attempt is a milestone for the project, and the listing announcement process has positively impacted the value of the coin.
At the time of writing this article, MKR . is trading price $507, which means an increase of almost 50% in the last 48 hours, bringing the market capitalization of the coin now to $510 million.
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