Coinbase Pro Exchange Supports New Order for Chainlink, Uniswap, Yearn.Finance

coinbase pro

Bob Coiney

December 3, 2020

Coinbase Pro exchange has announced its support for new order books for a barrage of choices in the form of Zcash [ZEC], Uniswap [UNI], Algorand [ALGO], Yearn.Finance [YFI], and Chainlink [LINK].

A news publication on AMBCrypto claims that Coinbase Pro exchange is now adding support to Chainlink, Uniswap, Yearn.Finance, Zcash, and Algorand. The new pairs, which will be added to the exchange are UNI-BTC, LINK-BTC, LRC-BTC, ALGO-BTC, YFI-BTC, and ZEC-USD. 

The trading for the pairs will be launched on December 8th in phases. Traders can make use of the post-only, limit-only, and full trading. The exchange said that if traders find that the new order books are not able to meet the assessment, the books may be kept in one state for a lengthy period of time. 

They can suspend trading according to the rules of the exchange to ensure a healthy and orderly market. The move is not surprising, considering the fact that several cryptocurrency exchanges are aggressively adding new projects at this time. 

It is evident given the current environment in the crypto market where there is decentralized finance. Fuzzy. One who are a supply chain and information engineering service had this to tweet about the development. 

Coinbase will henceforth be stopping handing margin trading service for users. The platform made the decision on November 25. Traders noticed that it was removed in December as the expiration of all trading positions came into effect. 

According to a news post on NEWS BREAK many from the DeFi and insiders knew the move was just a matter of time. Kyle Joseph Kistner, who works for the bZx platform, said that the CFTC stance of not your keys, then it is not your cryptocurrency, may impact the exchanges. 

He felt that CFTC is saying only DeFi traders will be given the margin trading service, which is not a good idea. That is because it may become a barrier to other users. As of now, Coinbase Pro supports significant projects, including UNI and YFI.