MATIC, SKL, SUSHI soars amid Coinbase Pro listing announcement


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TL;DR Breakdown

  • Coinbase Pro will commence trading of SKL, MATIC, and SUSHI tomorrow.
  • These coins are already seeing an increase in value following the announcement.

Polygon (MATIC), SKALE (SKL), and SushiSwap (SUSHI) are the latest cryptocurrencies set to list on Coinbase Pro tomorrow. Following the announcement, these cryptocurrencies, especially MATIC and SKL, are already seeing an exponential increase in market value. Since the past year, the US-based cryptocurrency exchange has been listing several cryptocurrencies, including DeFi tokens, some of which also saw an uptick in value, for instance, Algorand.

Coinbase Pro to support SUSHI, SKL, and MATIC trading

Following the announcement on Tuesday, Coinbase Pro is already accepting inbound transfers of MATIC, SKL, and SUSHI, meaning the exchange users can deposit these cryptocurrencies into their account ahead of trading. If all the conditions are met, the cryptocurrencies will start training on the exchange on the 111th of March, at 9 AM Pacific Time (PT).

Coinbase Pro will launch three-phase order books – post-only, limit-only, and full trading – for SKL, MATIC, and SUSHI trading against fiat currencies like USD, EUR, and GBP, and also Bitcoin (BTC). This is if a sufficient supply of cryptocurrencies is established on the exchange.

Coinbase keeps supporting DeFi tokens

SUSHI, SKL, and MATIC are all Ethereum-based cryptocurrencies. Amid the announcement yesterday, the cryptocurrencies already see an increase in market value. Starting with SKL, the price is up by over 65 percent over the past 24 hours, trading at $0.5836 on Coinmarketcap at the time of writing. MATIC also soared by 34.2 percent within the same period, currently trading at $0.3196, which SUSHI posted a mild growth of 6.09 percent at the market price of $18.78.

The development today is coming some weeks after the exchange listed three DeFi tokens for trading on its platform. These included AAVE, Bancor, and Synthetix tokens, as Cryptopolitan reported.

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Ibiam Wayas

Ibiam is an optimistic crypto journalist. Five years from now, he sees himself establishing a unique crypto media outlet that will breach the gap between the crypto world and the general public. He loves to associate with like-minded individuals and collaborate with them on similar projects. He spends much of his time honing his writing and critical thinking skills.

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