What Enhanced XLM Growth?
Recently, the popular US based crypto exchange and wallet, Coinbase announced its partnership with Stellar.
At present, Coinbase Pro will accept deposits of XLM for nearly 12 hours prior offering full trading. Coinbase notes that after implementing enough supply of XLM, it will open trading pairs in U.S. dollars, euro and Bitcoin (BTC) in phases.
According to Coinbase’s blog post,
Since its launch in 2014, its vision has been to unite the world’s financial infrastructure so that money can flow quickly and cheaply between banks, businesses, and people. The
Internet connectedthe world’s computers so that information could be shared globally. Stellar aims to do the same for money.
[bctt tweet=”What is the reason for this sudden growth?”]
Basically, XLM trading will go through three stages before enabling full trading, including limit, market and stop orders. The stages involve:
The initial 2 stages provide users to transfer XLM to Coinbase Pro accounts and post limit orders. On the other hand, the limit-only phase will see Coinbase’s trading engine matching limit orders, but not market orders.
Initially, XLM trading will be available for users in Coinbase’s supported jurisdictions, except the state of New York.