- Coinbase Pro is preparing to list Harvest Finance, Fetch.ai, Paxos Standard, and Polymath Network on its platform, with trading beginning on July 27.
- Inbound transfers are available in regions where trading is supported.
- FARM is up over 10% in the past 24 hours, and similar price action can be expected for FET and POLY.
US-based cryptocurrency exchange Coinbase has revealed plans to list FARM, FET, PAX and POLY, driving the demand for these cryptos on spot exchanges.
Coinbase Pro listing pushes FARM, FET and POLY prices higher
Coinbase Pro announced the listing of FARM, FET, PAX, and POLY on July 26. Trading is set to begin on or after 9 AM Pacific Time (PT) on July 27 if liquidity conditions are met.
The announcement increased the demand for these cryptocurrencies across spot exchanges. FARM’s trade volume is up over 99.4%, and the crypto surged over 10%, according to CoinMarketCap. “The Coinbase effect” has led to a rise in prices of the other newly listed cryptos FET and POLY as well.
The exchange has started accepting deposits for all four cryptos, and once a sufficient supply of FARM, FET, PAX, and POLY hits Coinbase Pro, trading will be supported against the US dollar and Tether (USDT).
The order books for these cryptocurrencies will launch in three phases: post-only, limit-only, followed by full trading. Coinbase Pro has stated that if at any point the newly listed cryptocurrencies do not meet the assessment for a healthy and orderly market, the exchange may pull support for them.
Following successful trading in the USD, USDT pairs on Coinbase Pro, the exchange will offer FARM, FET, PAX, and POLY to trade for a wider user base.
A Coinbase listing has historically had a positive impact on the listed assets’ price. This time around, Fetch.ai seems to be an outlier in this listing since FET has dropped 8.3% after hitting a peak of $0.40 in the past 24 hours. FARM and POLY prices are up 11.80% and 2.02%, respectively.
FARM, FET, POLY hourly chart
It is worth noting that FARM, FET, PAX, and POLY are not available for traders on Coinbase’s mobile apps or Coinbase.com, and the exchange will make another announcement when support is added for the cryptos. Until trading goes live, traders can make deposits of the newly listed cryptos in their Coinbase Pro wallets.