Coinbase, a trading platform for cryptocurrencies such as Bitcoin, Litecoin & Co., wants to expand its product range with another cryptocurrency. Stellar Lumens (XLM) has been integrated into the system of the platform in a total of four steps. The cryptocurrency is already part of Coinbase Pro.
Coinbase last made big headlines last December. The company moved Bitcoin, Ethereum and Litecoin worth $ 5 billion to improve internal security. However, since they did so in secret at first, the rumor mill soon seething in the Bitcoin community. Of speculation about impending price dumps by so-called whales was mentioned here. However, after Coinbase confirmed to be behind the movement, the situation calmed down a bit.
Stellar Lumens (XLM) initially only on Coinbase Pro
Now cryptocurrency custodian provider is reporting to integrate Stellar Lumens (XLM) cryptocurrency into its system. As you can see from the blog entry, this integration is initially restricted to Coinbase Pro. As of March 13, the company began accepting incoming transactions on Coinbase Pro. But before they expand the offer, the company still wants to wait until enough liquidity is available. The integration of Stellar Lumens was ultimately divided into four steps.
- Transfer Only: The handling of Stellar Lumens was limited to the deposit on the Coinbase Pro account in the first twelve hours. So the company wants to make sure to have enough XLM available from the beginning.
- Post Only: In the next level, it is possible for users to set limit orders. However, they do not receive a match initially, so they are in “post only” mode.
- Limit Only: Afterwards it should be possible to match the previous orders. For ten minutes, this third phase should take place, until then the complete trades were released.
- Full Trading: Users have full opportunity to trade Stellar Lumens on Coinbase.
Stellar Lumens did well in the last month. The token has increased within the last 30 days by almost 30 percent. Within the last seven days there was an increase of almost 22 percent.