The past few days have been brought very good price movements for Stellar Lumens (XLM). XLM has soared on the news of its rebranding which includes a new logo. The cryptocurrency has now been added to Coinbase Pro trading platform.
Coinbase Adds Support for Stellar Lumens (XLM)
On Wednesday, March 13, 2019, United States-based cryptocurrency exchange Coinbase announced that it has added support for Stellar Lumens (XLM) starting with its Pro trader’s platform.
“After 1 pm PT on March 13, 2019, we will begin accepting inbound transfers of XLM to Coinbase Pro,” Coinbase wrote in a blog post.
The exchange explained that it will accept deposits for about 12 hours prior to enabling full trading to allow for sufficient liquidity of XLM.
In a manner similar to its previous listings, the Stellar XLM is being added to the platform in four phases, Coinbase noted are “transfer only”, “post only”, “limit only” and then the full trading phases. In the first two stages, customers can only transfer XLM tokens to Coinbase Pro accounts and post limit order which would not be matched immediately. In the third stage, the customers can now match orders but cannot submit market orders while the final stage will open all trading options available on the platform to XLM traders.
Coinbase noted that the service is not yet available for its retail customers using the Coinbase.com site or its mobile apps. From other listings, the support could be announced on the retail platforms as soon a few days or a few weeks after Pro support. Also, the XLM trading will immediately be available in all Coinbase jurisdictions with the exception of New York.
Coinbase Adding Support for Cryptocurrencies
As Smartereum reported, Coinbase finally listed Ripple (XRM) in February after a lot of speculations and demands from the community. The cryptocurrency was first added to its Pro platform and then on its retail platform days later. Ripple and Stellar are among over 30 cryptocurrencies Coinbase said it was considering listing last December. The exchange earlier named Cardano [ADA], Basic Attention Token [BAT], Stellar Lumens [XLM], Zcash [ZEC], and 0x for possible listing last year. All but one of them have now been listed on Coinbase.
Stellar Lumen (XLM) Price goes Up as Stellar Rebrands, Gets New Logo
Launched in 2014, Stellar is a payment network that aims to connect banks, businesses, and individuals to provide the framework for fast and cheap money transfers.
The project recently announced its rebranding plans and the change of its popular rockets ship logo. Though the rebranding is set to be launched fully by May, the impact is already being felt.
Stellar (XLM) Price Today / USD
Following news of its rebranding, the price of Stellar Lumens (XLM) has jumped reaching close to 10 percent gain between extremes. Activity around the cryptocurrency spiked at the start of the week; the 24-hour trade volume doubled that at the start of the previous week.
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What is the price of 1 XLM today?
At the time of writing, XLM is trading at $0.110 to the USD which represents an increase of 7 percent than this time yesterday. 24-hour trading volume is currently about $175 million with about 21 percent of those trades happening on Binance exchange.
Riccardo Lopp is a writer specializing in Crypto, ethereum and whole blockchain ecosystem. His background is in economics and statistics.
