July 25, 2024
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Coinbase Pro Lists SushiSwap, Polygon, Skale Network

Coinbase Pro Lists SushiSwap, Polygon, Skale Network

Coinbase Pro has recently announced its support for three new digital assets. It involves Polygon (MATIC), Skale (SKL), and SushiSwap (SUSHI). Polygon (MATIC) is an Ethereum-based token that powers the Polygon Network. Skale (SKL) is a leaderless consensus protocol, and SushiSwap (SUSHI) is a decentralized exchange and AMM. Coinbase advocated that Polygon (MATIC), SKALE (SKL), and SushiSwap (SUSHI) would be added to the exchange and will commence trading on March 11.

Coinbase Pro further added that once the platform has attained enough supply of each token, order books will be accessible for the following assuming liquidity is adequate. It involves MATIC-USD, MATIC-BTC, MATIC-EUR, MATIC-GBP, SKL-USD, SKL-BTC, SKL-EUR, SKL-GBP, SUSHI-USD, SUSHI-BTC, SUSHI-ETH, SUSHI-EUR, and SUSHI-GBP. Moreover, order books will propel in three phases. Moreover, it comprises post-only, limit-only, and full trading. According to the details given, the trading of the recently added virtual assets will be accessible in all of the regions backed by Coinbase. However, SushiSwap, which will not be open to New York State users.

Polygon (MATIC), SKALE (SKL), and SushiSwap (SUSHI) Witnesses Surge in Price

After the announcement that Coinbase would add Polygon (MATIC), SKALE (SKL), and SushiSwap (SUSHI) to the exchange, the tokens witnessed a surge in their prices. This has proven that the Coinbase effect is vital as the tokens noticed record trading volume and double-digit price movements after the listing occurred. Data from TradingView confers that SKL has been the largest recipient of the Coinbase effect. Moreover, it grew more than 200% since the decision on March 9. Moreover, MATIC has increased by 88% and SUSHI has gained a modest 7%. 

These three tokens accompany a list of assets in Coinbase Pro’s inventory. Recently, Coinbase added support for The Graph, Filecoin, UMA, and Loopring, among others. Meantime, Coinbase is currently equipping to go public on NASDAQ. Moreover, the Coinbase shares were valued at $90 billion in a private auction before the public listing of the exchange. Moreover, this was the ultimate private auction of Coinbase stocks led by the stock exchange.

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