Coinbase Pro, the US-based digital asset trading exchange, announced support for Stellar’s native crypto asset XLM on its platform recently. The listing will enable users on the platform to deposit their XLM approximately 12 hours prior to the initiation of full trading. XLM inbound transfers to the exchange would be accepted after 1 PM PT on March 13.
Brian Armstrong revealed the latest development through his official Twitter handle,
According to the official blog post, the XLM listing will be immediately available at all the jurisdictions supported by the exchange, excluding the state of New York.
After an adequate volume of XLM is delivered on the Coinbase Pro platform, order books for three trading pairs XLM/USD, XLM/BTC, and XLM/EUR would be initiated. To send XLM to Coinbase Pro, a Memo is required, falsely inputting, which could lead to the permanent loss of funds. Furthermore, funds sent without a Memo will not be received.
The blog post also detailed the stages of the launch, the first being the Transfer-only phase in which consumers will be able to deposit XLM on their exchange wallet. This phase will be live for 12 hours and order books will be in a transfer-only mode and no orders will be filled during this stage.
This phase will be followed by the Post-only stage, during which users on the platform will be able to post limit orders. In this stage, there will be no completed orders, and order books will be in a post-only mode for a minimum of 60 seconds.
The third is the Limit-only stage, which will last for approximately 10 minutes. Limit orders will be completed in this mode, however, consumers will not be able to submit market orders.
In the fourth and final stage, full trading services will be made available for users.
Stellar’s native cryptocurrency XLM drives the payment network for the open-sourced and decentralized protocol. Recently, XLM exhibited a sharp surge of around 30% in just 48 hours in a bearish market. The crypto-community associated the price surge to the coin’s logo modification. The foundation also revealed that its official rebranding was set to launch in May this year.
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Tether’s [USDT] market capitalization hits all-time high, Facebook in talks with Winklevoss twins, trading firms over new cryptocurrency and more
Crypto News – 25 May – Tether’s [USDT] market capitalization hits all-time high, Facebook in talks with Winklevoss twins, trading firms over new cryptocurrency and more
— AMBCrypto (@CryptoAmb) 25 May 2019
Daily Crypto News – May 25
1) Bitcoin Wallet receives part of 5,000 BTC: A recent Whale Alert highlighted a transaction on May 24, where a large sum of Bitcoin [BTC] exchanged hands between two anonymous wallets. According to the alert the transaction took place at 22:13:23 + 1 minutes and 5,000.00001092 BTC was transferred from an unknown wallet, with address 19SiCYaYKZh9A8HUjuh14eg5wtYzKxiFbB, to another unknown wallet with address 14GcjGjxwadzcpmq9EG3KUgTKATjurbnWt.
Read more at https://bit.ly/2VRQwb0
2) Bitwise Report 2.0: Bitcoin [BTC] futures continues growth: On a month-on-month basis, Bitcoin Futures saw a massive bump in April trading at an average of 10,000 contracts daily, peaking on April 4, with over 22,000 contracts traded. To put that number in perspective, in March 2019, the average contracts traded was less than 4,000. Despite the high standards set in April, the average daily contracts traded in May, with 25 days gone has exceeded 14,000 and still looks to grow, given the price performance of Bitcoin.
Read more at https://bit.ly/2W40sTR
3) Craig Wright on private keys: Craig S Wright has, for years, claimed he is the true creator of Bitcoin [BTC] without providing a shred of evidence to support the same. With the crypto-community levelling, Wright could prove his worth by sending BTC from Satoshi Nakamoto’s touted wallet containing around 980,000 BTCs, the BSV man in a twisted cause and effect situation, stated he will “sign” into his wallet only when he proves he is the creator.
Read more at https://bit.ly/2X6fdlw
4) Tether’s [USDT] market cap hits ATH: Tether and Bitfinex are being closely scrutinized now more than ever due to the NYAG’s lawsuit; however, the scrutiny doesn’t seem to have affected Tether as the market cap of USDT has increased by over $100 million in approximately 70 days.
Read more at https://bit.ly/2McaTjE
5) Tether volume shift: Another controversial topic in the cryptocurrency industry was the issue of fake transaction volumes on many of the popular cryptocurrency exchanges. The magnitude of the topic was so large that even Changpeng Zhao, the Chief Executive Officer [CEO] of Binance had raised red flags. This topic and Tether as a whole received another twist when Larry Cermack, the Director of Research at The Block, pointed out a few parameters when it came to the said volume.
Read more at https://bit.ly/2wmk4mJ
6) Bitfinex’s LEO tokens listed on Delta Exchange: Bitfinex’s Leo tokens faced quite a lot of criticism when they were announced, due to the missing $850 million funds from Bitfinex. The private investment round by Bitfinex also faced a lot of heat from the media. However, in a recent development, Leo tokens are being listed on various exchanges for trading.
Read more at https://bit.ly/2HUEnNB
7) Robinhood en-route a projected valuation of $7 billion: Robinhood, the California-based cryptocurrency exchange made headlines recently when a source close to the organization revealed that it was on the verge of closing their latest round of funding at a valuation of a whopping $7 billion – $8 billion. Sources even claimed that the current round of funding could act as a precursor to an even bigger round of funding, which would pit Robinhood with the bigwigs like Coinbase and Binance.
Read more at https://bit.ly/2W64KKj
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