In line with the announcement, Coinbase has launched support for 0x [ZRX] on its platform, Coinbasepro,thoughtradingwouldsolelybe allowed oncedecentliquidity is established. The exchange notes that a separate announcementwould becreatedoncethe token becomesis availableon the exchange ‘coinbase.com’ and on its mobile apps.
ERC-20 tokensare digital currencies developed and usedonlyon the Ethereum [ETH] platform,in whichERC stands for Ethereum Request for Comment, andtwentyis therangeassignedto thisrequest. ERC-20 makes the creationof newtokensveryeasy,whichis main reason behind why ETH became so fashionable among the crowdfundingfirmsfunctioning onInitial Coin Offerings [ICOs].
0x [ZRX]commercewould beofferedin most jurisdictions, except the stateof New York in its initial launch stage. Coinbase has categorized thelaunch into four stagesfor everynewtradingpair that would include; ZRX/USD, ZRX/EUR, ZRX/BTC and ZRX/GBP.
According to an official web blog post by Coinbae,within theprimary, “transfer-only” stage, customerswould be able totransfer ZRX into their Coinbaseproaccounts,
while nothaving achoice toplace orders. The second “post-only” stagewouldlet customers post limit orders,butwith no matches.the nextstages — “limit-only” and “full-trading” —wouldmodifymatching limit orders and fullcommerceservices,as well aslimit, market, and stop ordersseverally.
Earlier in July this year, Coinbaseproclaimedits was considering adding5new assets — Cardano [ADA], Basic Attention Token [BAT], Stellar Lumens [XLM], Zcash [ZEC], and 0x [ZRX] — to its platfrom. The platform noted then that the new assets wouldneedfurtherbetawork,conjointlywarning that the listingmethodmight make some coinsavailable for consumersto buyand sellsolely,withoutthe flexibilityto send or receive thememploying anativedigital wallet.
Coinbaseunconcealedits intentionto featuresupport for ERC-20 tokens in March, reversing previous statements fromJanuary.
“After evaluating factorslikeliquidity,valuestability, andalternativemarket health metrics,we might choose to addadd any ERC-20 tokenaddedto GDAX to the Coinbase platform.”
At the reporting time,0x [ZRX] is currently trading at a price $0.750 USD which is low to 1.54% than yesterday.