The price of Maker has surged 30% in less than one hour following news of forthcoming listings on Coinbase Pro.
Support for Maker (MKR), the token underpinning the leading decentralized finance, or DeFi, protocol MakerDAO, is set to launch on Coinbase Pro on June 8.
The U.S.-based cryptocurrency exchange announced the forthcoming listing on May 29, with USD and Bitcoin (BTC) pairings set to go live in phases.
Coinbase Pro announces Maker pairings
Coinbase Pro will begin accepting MKR deposits on Monday, June 8. Trading is slated to commence at approximately 9am Pacific Time on June 9, providing the exchange’s MKR orderbook garners meaningful liquidity.
“[T]rading on our MKR-USD and MKR-BTC order books will start in phases, beginning with post-only mode and proceeding to full trading should our metrics for a healthy market be met,” Coinbase Pro stated.
MKR rallies 30% in one hour
Maker currently comprises the largest DeFi project by assets under management, currently representing $486.3 million in locked funds or 54% of the entire DeFi capitalization according to DeFi Pulse.
News of the forthcoming listing triggered a 30% rally in the price of Maker in just one hour, with MKR gaining from roughly $350 to $457 in 60 minutes.
MKR/USD on Bitfinex: TradingView
Maker is currently up nearly 130% from the depths of its Black Thursday lows.
Source: , CoinTelegraph
Articles listed with Cash Tech News as the author are either general information, or may have been imported from another website, to bring our readers a rich media experience that encompasses articles that we find interesting, as well as those curated by others.
The views and opinions expressed here are for informational purposes only, and should not be confused with professional financial advice. These opinions are solely those of the author and do not necessarily reflect the views of CashTechNews.com. Every investment and trade involves risk. You should conduct your own research, and contact your professional financial advisor before making any investment.
Corrections, feedback, and ideas should be submitted through the website contact form.