Coinbase Pro Accepts Deposits In Basic Attention Token

Coinbase, the largest US-based cryptocurrency exchange with more than 2 million clients, has publicized that it has started accepting deposits in the form of Basic Attention Token (BAT) in its professional platform Coinbase Pro.

Coinbase has started offering support for BAT tokens on its Coinbase Pro platform and permits buying and selling the BAT/USD pair only when adequate liquidity exists. Coinbase has pointed out that buying and selling of BAT is possible in several jurisdictions with the exclusion of New York State residents.

Notably, BAT is offered only on iOS and Android applications and not on the exchange’s platform Coinbase.com.

According to Coinbase’ announcement, BAT trading will be offered in four stages, inclusive of “transfer-only,” where clients will be able to deposit Coinbase pro accounts, and “post-only,” which will permit client to execute limit orders. The other two phases consist of “limit-only,” where limit orders begin to match, and the ultimate stage “full trading,” which provides total access to trading services, not to mention limit, market, and stop orders.

Following Coinbase’s announcement, the BAT price has gained over 20% to reach a level of $0.29557. The crypto’s market capitalization is roughly $305 million, while its average daily trading volume is over $42 million. BAT is an Ethereum-based cryptocurrency that is incorporated into the blockchain-based web browser Brave. At the time of its initial coin offer (ICO) for building BAT, Brave team raised $35 million in ~30 seconds.

Earlier this month, Coinbase started facilitating trading for 0x (ZRX), making it as the first ERC-20 token offered for trading on the platform. Again this month, the exchange also introduced USDC, the first US dollar pegged stablecoin, on the platform. The stablecoin was built in partnership with blockchain-powered payments technology company Circle.