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Coinbase Pro Adds 0x (ZRX) Token, Trading About To Commence

The trading platform from Coinbase announced the addition of ZRX token. Customers will be able to place and fill orders after the imposed 12-hour deposit window.

ZRX Trading Pairs Added

Coinbase Pro, the FDIC insured trading platform for advanced traders from the Coinbase suite of products, has announced the addition of 0x (ZRX) token to its list of digital assets. The announcement was made on the Coinbase Pro Twitter account and on the official Coinbase blog earlier Thursday.

ZRX is launching on Coinbase Pro! The ZRX/USD, ZRX/BTC, and ZRX/EUR order books have entered transfer-only mode. Traders can deposit ZRX, but cannot yet place or fill orders. Order books will remain in transfer-only mode for at least 12 hours. https://t.co/SomOUqoXhv

— Coinbase Pro (@CoinbasePro) October 11, 2018

According to the blog post, the platform began accepting ZRX deposits at 10 am PT on Thursday, October 11 and the exchange would accept deposits for at least 12 hours before opening the trading window.

The token would be available for trading in ZRX/USD, ZRX/EUR and ZRX/BTC pairs but not in ZRX/GBP. Trading of the token would be available in most jurisdictions except for New York state.

The post also clarifies that the token is not yet available on the Coinbase.com platform.

Launch Steps

For each trading pair, the exchange will follow the below-listed stages, as explained in the post:

  1. Transfer-only: Starting at 10 am PT on Thursday, October 11, customers will be able to transfer ZRX into their Coinbase Pro account. Customers will not yet be able to place orders, and no orders will be filled on these order books. Order books will be in transfer-only mode for at least 12 hours.
  2. Post-only: In the second stage, customers can post limit orders but there will be no matches (completed orders). Order books will be in post-only mode for a minimum of one (1) minute. This market state may be kept short or extended, to increase market health during launch.
  3. Limit-only: In the third stage, limit orders will start matching but customers will be unable to submit market orders. Order books will be in limit-only mode for a minimum of 10 minutes.
  4. Full trading: In the final stage, full trading services will be available, including limit, market, and stop orders.

Coinbase notes that:

If at any point one of the new order books does not meet our assessment for a healthy and orderly market, we may keep the book in one state for a longer period of time, or suspend trading as per our Trading Rules.

ZRX Price Surges

Riding on the euphoria around this announcement, ZRX price has seen a jump of 13.37% in the last 24 hours. ZRX is an open protocol for decentralized exchange on the Ethereum blockchain. The coin currently has a market capitalization of around $417 Million and circulating supply of 541 Million.

What is your opinion on Coinbase listing ZRX token first on Coinbase Pro rather than on Coinbase.com platform? Let us know in the comments below.

Images courtesy of CoinMarketCap, Shutterstock

The post Coinbase Pro Adds 0x (ZRX) Token, Trading About To Commence appeared first on Live Bitcoin News.

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