Bitcoin

Celo’s price skyrocketed after Coinbase Pro announced its listing

The largest US cryptocurrency exchange, Coinbase Pro has announced that it will accept the native token of the blockchain platform Celo (CELO).

Other Celo markets responded enthusiastically The coin is up about 55% against the USD and BTC in the past 24 hoursas CELO rose to new all-time highs above $ 2.70. As of this writing, CELO is changing hands for $ 4.45.

CELO / USDT-Chart – Bittrex – 1D: TradingView

Celo’s price skyrocketed after Coinbase Pro announced its listing
Celo’s price skyrocketed after Coinbase Pro announced its listing

Coinbase Pro will accept CELO deposits from August 31st. Trading will start at 9am on September 1st, subject to liquidity conditions.

The exchange will support four pairs for Celo so customers can Trade CELO with Bitcoin (BTC), USD, EUR and GBP.

The markets are started in four phases, starting with deposits, before traders can fill out the order books, execute limit orders and finally move on to full trading functionality.

CELO’s explosive performance today appears to be at odds with the analysis conducted by Coin Metrics in June which found the price impact of the recently announced Coinbase Pro listings to be overstated., with newly listed markets achieving average price returns of between -1% and + 14% after the announcement.

The Coinbase Pro listings were also the catalyst for the meteoric price moves of Numeraire (NMR) and Band Protocol (BAND) earlier this month, which posted listings gains of more than 150% and 250% within days of going public.

Coinbase first suggested supporting the Celo token in September 2019 when the exchange announced Celo as one of 17 projects that have not yet started and are considering listing.

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