San Francisco-based cryptocurrency exchange Coinbase has announced the listing of four ERC-20 tokens — Civic (CVC), district0x (DNT), Loom Network (LOOM) and Decentraland (MANA) — on its Pro trading platform.
CVC, DNT, LOOM and MANA order books will soon enter transfer-only mode. We will accept inbound transfers of these assets, but traders cannot place orders and no orders will be filled. Order books will be in transfer-only mode for a minimum of 48 hours. https://t.co/drhrNCKQOG
— Coinbase Pro (@CoinbasePro) December 7, 2018
Due to the fact that each of these altcoins currently holds a market cap of less than $60 million, the initial response to the four additions has been less than positive. However, it seems that Coinbase had anticipated the response given statements provided in its announcement.
“We recognize that there are popular assets that we have not yet added to our platform. Our decision to add ERC-20 tokens first is based on the relative ease of integrating the standard with our existing infrastructure, particularly from a security standpoint,” Coinbase said. “However, as noted in our earlier post, we are exploring the addition of many new assets beyond ERC-20 tokens on a jurisdiction-by-jurisdiction basis.”
This news comes just a week after the company listed privacy coin Zcash (ZEC) and a month after Basic Attention Token (BAT), the token associated with the privacy-focused Brave browser, became the 8th coin added to Coinbase Pro.
According to the announcement, the order books for the four altcoins will be transfer-only for at least 48 hours before trading will begin.
More: ERC20 tokens Civic (CVC), district0x (DNT), Loom Network (LOOM), and Decentraland (MANA) are launching on Coinbase Pro
Disclaimer: This article’s author has cryptocurrency holdings that can be tracked here. This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.