43 Million Retail Investors Now Gets Access to SUSHI, MATIC, & SKL on Coinbase Pro
SKALE (SKL) reacted the most to the Coinbase Pro listing. The three crypto-assets will begin trading on March 11 and are not yet available in New York State and on Coinbase.com or its mobile apps.
Coinbase, the leading US cryptocurrency exchange, has listed popular DeFi token SUSHI along with MATIC and SKL.
SUSHI is the governance token of Sushiswap, the second-largest decentralized exchange (DEX), managing about $500 million in daily trading volume. The DeFi token is trading at $18.50, up 450% YTD.
MATIC powers the Polygon Network that aims to provide faster and cheaper transactions on Ethereum using Layer 2 sidechains. Trading at $0.321, the token has been having a spectacular 2021 with 1,720% gains this year so far.
The company disclosed that its investment arm, Coinbase Ventures invested in the project Matic in 2019 and owns MATIC tokens.
Unlike the other two tokens, SKALE reacted to the listing the most with a 93% increase in value, currently trading around $0.55. It is an Ethereum-compatible decentralized network designed to scale Web3 applications.
All three crypto-assets are listed against USD, BTC, EUR, and GBP, with SUSHI having an additional pairing with ETH as well.
Now, US users will be able to get access to these DeFi tokens, which, as Coinbase revealed in its SEC filing, are 43 million. Also, institutions will be joining in as they now account for 64% of Coinbase’s volume by customer segment as of Q4 2020.
These cryptos will be available in all of the exchange's supported jurisdictions except for New York State. For now, they are not yet available on Coinbase.com or through its mobile apps either.
While the transfers on Coinbase Pro accounts are now opened, trading will begin on March 11.
These listings are just one of the many DeFi tokens that the exchange has been exploring for listing. Several major DeFi tokens, including AAVE, Bancor (BNT), Synthetic (SNX), YFI, Uniswap (UNI), Maker (MKR), are already on Coinbase.