Cryptocurrency exchange Coinbase Pro has announced the listing of the yEarn Finance (YFI) DeFi platform token. After the publication of the statement, the price of the coin jumped by more than 15%, approaching $ 35,000
On Monday September 14, our YFI-USD order book will enter transfer-only mode, accepting inbound transfers in supported regions. Orders cannot be placed or filled. Trading will begin on or after 9AM (PT) Tuesday Sept 15, if liquidity conditions are met. https://t.co/6UTHK3Htpf
— Coinbase Pro (@CoinbasePro) September 10, 2020
On Monday, September 14th, Coinbase Pro will begin accepting incoming token transfers.
The exchange plans to launch trading in the YFI / USD pair on September 15, if the liquidity reaches the required level.
The launch will take place in four phases, in accordance with Coinbase Pro’s rules for listing new assets. At the final stage, traders will have access to all trading services, including limit, market and stop orders.
After the jump, the YFI price corrected. At the time of writing, the token is trading at around $ 33,300.
Earlier, experts drew attention to the so-called “Coinbase effect” – when digital assets rose sharply after the listing was announced on the site. Some believe that the impact of such ads from Coinbase is grossly exaggerated.
For how long the Coinbase effect lasts, whether it always works, and how traders can use it, read the ForkLog article.