Coinbase, which is one of the leading U.S.-based cryptocurrency exchanges, announced today that its users can now fully trade the Basic Attention Token within its platform. This includes trading through its website as well as through its iOS and Android mobile apps. In addition to buying and selling the token, Coinbase indicated that its users could also send, receive and store the token along with any other cryptocurrencies available through its trading platform. Though not all its customers will have the ability to the trade the token on its platform. At least at the moment, New York residents will be prohibited from performing any transactions involving the token. Last week, Coinbase announced that users could make transfers of the token into their Coinbase Pro accounts. But they could not until now trade the tokens, as the exchange was waiting until there was sufficient liquidity of the currency for trading purposes. The exchange further indicated at the time that the token would undergo a 4-step process, with the transference of tokens into Pro accounts being the first step. The next step was to allow the posting of limit orders, which was followed by the matching of limit orders. The 4th and final step was unlimited trading, which includes limit, stop and market orders. Last week's announcement caused the price of the token to soar. It gained more 20% in value for the day. Though today's announcement did not cause a similar surge. In fact, the price of the token fell nearly 4% for the day. Though it did initially increase a bit after the announcement. For the week, the token is still on a considerable upswing. On November 2, it was trading at $0.253, and even after today's decline it is trading at $0.321. This after reaching a high today of $0.379. The token is not the only new digital currency Coinbase now supports. Just last month, the exchange added support for 0x, which became the first ERC-20 token that is available on the exchange. The exchange also added support for USDC, which is the first U.S.-dollar denominated stablecoin available on the platform.
Subscribe to Find the Best Cryptocurrencies & News - 99 Crypto
Get the latest posts delivered right to your inbox.