American cryptocurrency exchange Coinbase has announced the listing of Dogecoin on its professional trading platform. The company invites clients to make deposits in anticipation of trading, which will start on June 3, provided there is sufficient liquidity.
Dogecoin ranks seventh in the list of the largest cryptocurrency assets with a capitalization of $ 43 billion. Since the announcement of Coinbase, the price of DOGE has risen by 7%. This is not much when you consider the recent volatility of the meme cryptocurrency, but today DOGE is the best asset in the top amid a generally declining market. At $ 0.37, Dogecoin is still 53% below all-time highs recorded on May 8th.
Launched in 2013, Dogecoin is listed on a variety of exchanges and gained popularity among users of the Robinhood trading application, but it was not available to clients of the leading American exchange until that time. According to the Nomics platform, Coinbase is one of the five largest transparent crypto exchanges in terms of trading volume. The new listing will help boost liquidity in the DOGE market. Many US traders bring fiat currency to the cryptocurrency market through Coinbase and tend to buy traded assets right away.
On Coinbase Pro, Dogecoin will be paired with USD, Euro, Pound, Bitcoin and USDT. As usual, the cryptocurrency is not yet available on the Coinbase.com retail portal and on the mobile app. The exchange usually adds their support shortly after the start of trading.
The founder of the Digital Currency Group, which also owns asset manager Grayscale Investments, Barry Silbert considers Dogecoin overvalued.
i’m truly excited to see what doge can become over time. it certainly is not going away and has one of the most passionate communities. but it is not worth $37 billion. sorry
— Barry Silbert (@BarrySilbert) May 30, 2021
“I’m really excited to see what Doge can become over time,” he tweeted over the weekend. “Of course it will not disappear and is supported by one of the most enthusiastic communities around. But it’s not worth $ 37 billion. Sorry. ”
Earlier, Silbert managed to capitalize on Dogecoin pullback from all-time highs. He promised to donate the money received for the development of bitcoin.