Celo spikes by 32% following Coinbase listing

Coinbase has listed Celo (CELO) on its platform, roughly a week after Coinbase Pro listed the cryptocurrency. The price of Celo then spiked by 32% in less than two hours

Coinbase announced yesterday that the Celo utility token can now be traded on its platform. This latest development comes a week after reports that the token was listed on Coinbase Pro, the other trading platform owned and operated by Coinbase.

“Starting today, Coinbase supports Celo (CGLD) at Coinbase.com and in the Coinbase Android and iOS apps. Coinbase customers can now buy, sell, convert, send, receive or store CGLD. CGLD is available in all Coinbase-supported regions,” the company writes.

Coinbase revealed it is temporarily listing the coin under the CGLD ticker instead of CELO, which represents the cryptocurrency. However, using a different ticker name will not affect the coin or hinder participation in on-chain governance activities, such as voting. Coinbase traders will be able to send and receive CLGD or CELO, as it is the same asset.

Coinbase revealed it regularly announces a new set of cryptocurrencies they are exploring, with CLGD one of the coins included in a list of exploratory cryptos last fall. However, with the announcement that Coinbase Pro would be listing the UMA token on September 8, some pundits believe the company might be prioritising tokens for projects it invested in. At the moment, Coinbase holds both the UMA and Celo tokens from its 2018 investment.

CELO spikes by 32% after Coinbase announcement

After the announcement by Coinbase, the price of the Celo token went up by 32% in less than two hours. The CELO token surged from $3.44 to a new all-time high of $4.55 barely two hours after the announcement.

However, Celo token dipped below the $4.00 mark but has since bounced back. At the time of writing, CELO token is trading at $4.28 per coin. CELO has set a new all-time high twice within the space of a week, and both events were spurred by the listing on Coinbase Pro and the Coinbase platforms, respectively.

CELO is currently up by 13% against the USD and 24% against BTC.

The post Celo spikes by 32% following Coinbase listing appeared first on Coin Journal.

scroll to top