Coinbase Pro, the US cryptocurrency exchange company, has announced that it will list the Celo Blockchain Token (CELO).
Other Celo markets have responded enthusiastically: the currency gained almost 55% against both the US dollar and BTC in the past 24 hours as CELO rose to an all-time high above $ 2.70. As of this writing, the CELO is being changed for $ 4.45.
Coinbase Pro will accept CELO deposits from August 31st. Trading is expected to begin on September 1 at 9:00 am PDT, subject to liquidity conditions.
The exchange will support four Celo pairs so customers can exchange CELO for Bitcoin (BTC), US dollars, euros and British pounds sterling.
The markets are started in four phases, starting only with deposits before traders are allowed to fill order books, activate the execution of limit orders and finally move on to the full trading functions.
Today’s explosive performance of CELO seems to contradict an analysis by Coin Metrics in June, which found that the price impact of newly announced Coinbase Pro listings is exaggerated – the newly listed markets achieve an average price performance of between -1% and + 14% 20 it was announced.
The Coinbase Pro listings also included the meteoric price action catalyst Numeraire (NMR) and the Band Protocol (BAND) earlier this month, which posted gains of over 150% and 250%, respectively, within days of the listings being announced.
Coinbase was first launched in September 2019 in support of the Celo token when the exchange announced that Celo is one of 17 projects that have not yet been launched and are considering listing.