The price of Polkadot (DOT) surged to touch the level of $25.55 following the announcement of listing on Coinbase Pro. Starting from June 16, the trading of Polkadot’s DOT token will be allowed on the Coinbase Pro platform as revealed in the recent announcement.
Polkadot (DOT) Spikes Following Coinbase Pro Listing Announcement
In accordance with the announcement made today, Coinbase Pro has listed the DOT token of Polkadot and the users are now made eligible to transfer DOT into their accounts.
The announcement read:
“Starting immediately, we will begin accepting inbound transfers of DOT to Coinbase Pro. Trading will begin on or after 9 am Pacific Time (PT), Wednesday, June 16, if liquidity conditions are met.”
In addition to this, it should be noted that trading on DOT will be allowed from June 16, Wednesday. Also, a condition is provided for the beginning of the trading journey of the coin, which is the lucidity conditions that should be met. However, they are most likely to meet though.
The native token of Polkadot is to be made available in all the jurisdictions that extend support to the exchange except Singapore.
A Market Signal or Just the Magnitude of Listing?
Well, there are some rumors in the market that the rise in the price of the coin could be a signal of the market bouncing back, but no, it is not. Generally, when a coin gets listed, be it any coin, there are huge chances that the listed coin will experience inflows which will ultimately spike the price of the coin.
Since the time of the announcement regarding the listing of the native coin of Polkadot on Coinbase Pro, the coin has managed to surge to the level of $25.550 on some exchanges.
It is, considering the current market situation, a decent surge as it marked a rise of around 15%.