Bitcoin exchange Coinbase Pro will add support for Algorand

by in Cryptocurrency News

Coinbase adds Algorand

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.

So, trading in the ALGO in pair with USD 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.

You could trade token in all supported jurisdictions. The only exception for now is New York State.

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The fact that Coinbase is considering listing Algorand, it became known on August 6.

Note, Algorand is a startup, which 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.

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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.