DeFi Blue Chips to Start Trading on Coinbase Pro; Kraken Also Announces Support


San Francisco-based cryptocurrency exchange Coinbase has announced the DeFi Blue Chips' listing, much to the crypto community’s excitement.

On Monday, the exchange started inbound transfers of Aave (AAVE), Bancor (BNT), and Synthetix (SNX). Trading for the DeFi tokens will begin today after 9 AM PT if liquidity conditions are met.

Trading for all three DeFi tokens will be supported against USD, BTC, EUR, and GBP.

“Finally, Coinbase lists something that people really want to trade,” tweeted the partner at crypto fund, The Spartan Group.

BNT responded to the listing the best with a nearly 32% uptrend to $1.36. This ERC-20 token powers the on-chain liquidity protocol Bancor.

Popular decentralized non-custodial money market protocol AAVE is the star performer of the market. Before rebranding as AAVE token, LEND was leading the market gains, and now AAVE is the shining star with its 4,777% YTD returns. Trading at $88.30, this token is currently up 9%.

Synthetix, a synthetic asset issuance protocol, is another project whose token is in demand. SNX jumped 15% to $5.43 on the news.

For now, the three popular DeFi tokens are only supported on Coinbase Pro and not on Coinbase.com or its consumer mobile apps. They will be available in all of its supported jurisdictions except for New York State.

These new listings have been part of the exchange's plan to offer more and more crypto assets to trade on its platform, which saw it adding support for Filecoin (FIL), Wrapped Bitcoin (WBTC), Balancer (BAL), Ren (REN), Uniswap (UNI), yearn.finance (YFI), Loopring (LRC), UMA (UMA) Band (BAND), Compound (COMP), Maker (MKR), OmiseGo (OMG), and others recently.

Coinbase has also started supporting additional European and UK order books recently.

Besides Coinbase, Kraken also listed AAVE along with MANA that will start trading on Dec. 15. Support for KAVA staking was also announced.

Kraken supports the trading of new crypto assets against USD, EUR, Bitcoin (XBT), and Ether (ETH) with the additional support of GBP for AAVE.

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