Just a couple of weeks after it added Ripple (XRP), Coinbase has decided to list Stellar Lumens (XLM) on its platform. As usual, Stellar Lumens will come to Coinbase Pro first, before coming to its retail platform. XLM deposits into Coinbase Pro have begun from January 13, 1 PM PT (January 14, 1: 30 AM IST). Stellar is now available across all the Coinbase jurisdictions, except New York state.
At the time of writing, Stellar is experiencing the ‘Coinbase Effect’ as the price is up by more than 5% after the announcement. XLM is currently trading at nearly $0.11 (₹7.7) on the exchanges.
As per the norm, XLM launch on Coinbase will move through the following stages: Transfer-only, Post-only, Limit-only
Stellar wants to disrupt the banking space by providing a system that connects banks, payment systems and people, quickly, reliably and at low costs. Recently, Stellar also went through a brand revamp and unveiled a brand new logo, replacing the familiar ‘rocket’ logo. XLM already traded at most of the leading Indian cryptocurrency exchanges.