- The band protocol [band] has seen a 45% rise following its listing on Coinbase pro.
- Coinbase officially announced that starting from August 10, it will be accepting inbound transfers of BAND to Coinbase Pro.
- There are four stages for the BAND’s launch on the platform i.e transfer-only, post-only, limit-only, and complete trading.
The band protocol [band] has seen a 45% rise following its listing on Coinbase pro. Tweeting on its account, Coinbase officially announced that starting from August 10, it will be accepting inbound transfers of BAND to Coinbase Pro.
Mon, Aug 10, our BAND-USD, BAND-BTC, BAND-EUR & BAND-GBP order books will enter transfer-only mode, accepting inbound transfers of BAND in supported regions. Orders cannot be placed or filled. Trading will begin on/after 9AM PT the following day, if liquidity conditions are met.
— Coinbase Pro (@CoinbasePro) August 5, 2020
The Coinbase Listing Effect
Coinbase is the leading certified US-based platform for digital asset trading which is popular among individual traders and crypto enthusiasts. Users of Coinbase have been requesting to have the freedom of trading more assets on the platform. Following up, Coinbase added Compound (COMP), Maker (MKR), and OmiseGo (OMG) as per their conditions of the listing process. Hence, In the process of exploring support for new digital assets, Coinbase has listed BAND. As per Coinbase procedures, there are four stages for the BAND’s launch on the platform i.e transfer-only, post-only, limit-only, and complete trading.
When a sufficient supply of Band established on the platform, trading on BAND-USD and several others will follow accordingly. This enables the coinbase customers to buy, sell, convert, receive, send and store BAND. Just like other cryptocurrencies that get listed on Coinbase, the band has risen sharply, ranking 64 with a market cap of $161.3 million. Currently, Band’s price climbed to $7.86 from its weekly low of $3.60, while the 24-hour volume has reached $69.59 million. COMP, an ethereum token, had a 60% rise after its listing on Coinbase.
Band Expanding its wings
Band Protocol is a cross-chain data oracle platform that combines and connects real-world data and APIs to smart arrangements. They enable smart contract applications like DeFi, prediction markets without depending on a single point of centralized oracle’s failure. Moreover, Band protocol is becoming many companies’ choices when adopting cryptocurrency methods.
Balanced, the decentralised financial platform has been collaborating with Band Protocol to design a highly strong oracle script on BandChain on specific parameters to the needs of the Balanced community. This partnership is under strategic support of the ICON Network. Also, the leading Blockchain platform Elrond partnered with Band to bring major improvements to the availability and scalability of existing data in their ecosystem. Moreover, there are many other companies like ICON which are planning to strategically partner with Band.