Cryptocurrency exchange Coinbase has opened inbound transfers for AVAX to its trading platform Coinbase Pro.
The listing will enable US-based customers to trade and purchase AVAX using three currency pairs – AVAX-USD, AVAX-USDT and AVAX-EUR.
Customers will be able to buy AVAX from 9 AM PT on September 30 if the necessary liquidity conditions are met.
Inbound transfers for AVAX are now available in the regions where trading is supported. Traders cannot place orders and no orders will be filled. Trading will begin on or after 9AM PT on Thursday September 30, if liquidity conditions are met. https://t.co/l4lwEtUGVe
— Coinbase Pro (@CoinbasePro) September 29, 2021
The listing of Avalanches native token, AVAX, opens the door for US-based DeFi enthusiasts looking to gain exposure to the AVAX ecosystem ahead of the much-anticipated Avalanche rush incentives.
The timing of the listing coincidentally aligns with Avalanche Rush, which is due to start this week. The program will bring over $500m in liquidity incentives to leading DeFi platforms on Avalanche including Aave, SushiSwap and Curve.
Although AVAX is not yet available on Coinbase.com or via its array of mobile apps, the listing on Coinbase Pro means US customers now have access to AVAX without having to purchase from a DEX, bridge funds to another chain or use a less reputable exchange.
Additionally, in a bid to make DeFi and access to the ecosystem even easier for Coinbase customers, the exchange confirmed that Coinbase Pro will only support ‘C-Chain Avalanche (AVAX)’ tokens.
Contract-chain (C-Chain) tokens on Avalanche can be easily transferred back and forth to a Metamask or applicable Web3 wallet – meaning that Coinbase customers can withdraw their tokens straight to their Metamask wallet and have instant access to Avalanche DeFi once Avalanche Rush begins
Coinbase remains the most popular exchange in the US ahead of FTX, Kraken and Binance.US – it accounts for the majority of trading volume within the US and has the most active users out of any exchange that operates in the US.
The exchange has also doubled down on its efforts to attract both retail and institutional consumers to its platform. It recently announced a ‘Paycheck deposit‘ feature and an integration with Apple and Google pay services to provide a further incentive in using a Coinbase Card.
Disclaimer: The views and opinions expressed by the author should not be considered as financial advice. We do not give advice on financial products.