DOT Surges 20% After Coinbase’s Listing announcement

Polkadot (DOT), the governance token of the Polkadot network, has witnessed a fresh 20% in price following the announcement from Coinbase Pro to list the token on its platform. It’s a trend that’s always anticipated by traders to make short term profits off the listing news from Coinbase Pro. 

 

The rise in the price of BTC to 40,000 brought greens to the crypto markets today as Ethereum (ETH) and a number of altcoins witnessed a rise in their prices thanks to Bitcoin.

However, transfers in preparation for the trading have commenced today, 14th June, 2021 according to the blog post by Coinbase Pro. Trading would begin on the exchange by Wednesday, June 16 if the liquidity terms are met.

 

DOT will be listed with four pairs on Coinbase Pro at launch; DOT/USDT, DOT/EUR, DOT/USD, DOT/BTC and DOT/GBP. Three order books will be launched and the modalities will be updated via the official Twitter handle of Coinbase Pro. 

 

Polkadot is a protocol that enables cross-chain transfers of any type of data, token or asset. It is a protocol that merges a number of blockchain to ensure scalability and high degree of security. 

 

Polkadot (DOT) serves as the governance token of the network; that is, the holders have complete  control over the protocol according to the website.It could also be used for staking, bonding and other purposes.

 

 DOT is bullish in the long term but for the time being and short term, smart traders would grab some ahead of the listing on Coinbase Pro for short term profit. We could see close to 50% rise in price in the coming days per the listing. 

 

What do you think? Share your comments below 

 

Comments (No)

Leave a Reply