On August 14, US leading Bitcoin exchange Coinbase Pro will add support for the Algorand token and allow users to make deposits for at least 12 hours before the opening of trading.
On Wednesday, August 14 our ALGO / USD order book will enter transfer-only mode, accepting inbound transfers of ALGO in supported regions. Orders cannot be placed or filled. Order books will be in transfer-only mode for a minimum of 12 hours. https://t.co/eYeky8GpMo
– Coinbase Pro (@CoinbasePro) August 9, 2019
So, trading in the ALGO / USD pair will be launched in several stages: initially, traders will be able to place only limit orders: post-only and limit-only. Full-scale trading will begin when Coinbase has accumulated enough liquidity and metrics indicate that the market is healthy.
Token trading will be available in all supported jurisdictions except New York State.
The fact that Coinbase is considering listing Algorand, it became known on August 6.
Note, Algorand startup was founded by Professor at the Massachusetts Institute of Technology (MIT) and Turing Prize winner Silvio Mikali. Last February, the company raised $ 4 million from Pillar Venture Capital and Union Square Ventures, and in October $ 62 million from an unnamed global investment group.
In the spring of this year, Algorand successfully conducted a $ 60 million token sale on the CoinList platform.
Economy without borders – Algorand project raised over $ 60 million in token sale and launched the main network
The startup has developed a public blockchain based on Proof-Of-Stake, which supposedly processes 1000 transactions per second with a delay time of less than 5 seconds.
Earlier, Tether launched the USDT stablecoin on the Algorand blockchain, and the Binance exchange added the possibility of staking for this token.
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