Coinbase Pro to accept Kyber Network (KNC) tokens
Inbound transfers of Kyber Network tokens (KNC) are now available at Coinbase Pro.
Kyber Network protocol uses KNC token to pay fees on its network. KNC is essentially an Ethereum token. KNC trading is available since 9AM PST subject to the condition that Coinbase Pro meets its liquidity conditions, notes the announcement.
KNC is not available on Coinbase.com and its consumer mobile apps. If such support is added, coinbase will announce the same. Trading will be available for KNC/USD, and KNC/BTC pairs.
Starting today, Coinbase Pro customers in 23 US states can access up to 3x leverage on USD-quoted books. Trading crypto on margin (or leverage) can amplify the impact of your trades by allowing you to borrow additional funds. https://t.co/RZTiV0eUpf— Coinbase Pro (@CoinbasePro) February 12, 2020
Major Opinion
The blogpost announcement noted that "There will be four stages to the launch as outlined below. We will follow each of these stages independently for each new order book. If at any point one of the new order books does not meet our assessment for a healthy and orderly market, we may keep the book in one state for a longer period of time or suspend trading as per our Trading Rules."KNC not yet available on Coinbase.com
The four stages include the inbound transfer of KNC into the Coinbase Pro account but there will not be any orders in those order books. In the second stage, limit orders will be activated. Third stage limit orders will start matching without support for market orders. The fourth stage will support full trading with the limit, market, and stop orders.
Excluding the New York State and the United Kingdom, KNC will be available in all Coinbase’s supported jurisdictions, notes the announcement.
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