- Coinbase Pro plans to begin DOGE trading on its platform on the 3rd of June.
- The largest BTC event, Bitcoin 2021 conference is scheduled for June 4th and 5th.
US-based crypto exchange Coinbase Pro plans to begin DOGE trading on its platform beginning from the 3rd of June. The exchange announced the addition of the cryptocurrency in a blog post. Coinbase Pro said the development is to attend to one of the common requests it receives from customers who seek to have access to more assets on the platform.
Coinbase Pro to begin DOGE trading
According to the blog post, the crypto exchange has started accepting inbound transfers of DOGE to Coinbase Pro since the 1st of June. Coinbase specified that trading would begin on the 3rd on or after 9 am Pacific Time (PT) if liquidity requirements are met.
Coinbase Pro added that trading on its DOGE-USD, DOGE-BTC, DOGE-EUR, DOGE-GBP, and DOGE-USDT order books would launch in three phases once a sufficient supply of DOGE is established on the platform. The three phases are post-only, limit-only, and full trading. Additionally, Coinbase may decide to suspend trading of any order books that the exchange sees as unfit for a healthy and orderly market. Coinbase also promised to update customers on the progress of each book through its Coinbase Pro Twitter account.
Dogecoin, which started as a joke in 2013, has surged over the years and is currently ranked 6th largest crypto asset by Crypto News Flash. At press time, DOGE is up 12.72 percent to $0.379494. Over time, DOGE has pulled in gains and seen increased adoption globally.
Tesla CEO Elon Musk is a known supporter of Dogecoin and has influenced gains in the value of the cryptocurrency. More recently, Musk said in a tweet that the idea of a DOGE festival “sounds kinda fun.” The CEO’s tweet came in response to a Twitter account known for supporting Dogecoin. The account uploaded a picture that depicts a Dogecoin festival with a lot of people in attendance. The image was posted with a caption that says, “would you go to a DOGE festival.”
In a separate tweet, the DOGE fan account suggested that Musk will be the DJ at the Dogefest, where DOGE will be the only means of payment at the event.
Bitcoin 2021 conference
The tweet on the DOGE festival came ahead of the anticipated Bitcoin 2021 conference to be held in Miami. The crypto event is taking place at the Mana Wynwood Convention Center on the 4th and 5th of June. The event organizer, Bitcoin media company BTC, said that over 10,0000 people would attend the conference. However, Fox Business noted that the event would record up to 50,000 attendees.
Furthermore, the event will host speakers such as former congressman Ron Paul and US senator from Wyoming, Cynthia Lummis. Other speakers at the upcoming occasion are MicroStrategy CEO Michael Saylor, Twitter CEO Jack Dorsey, philanthropist Tony Hawk, and cryptographer Nick Szabo.
Coincidentally, the Bitcoin event is happening at a time when BTC is suffering huge losses. Bitcoin has lost more than 50 percent over the last weeks from its record high of about $65,000 in mid-April. Notably, Musk used to be a huge supporter of Bitcoin. At a time, he added the Bitcoin hashtag to his Twitter bio. The Tesla CEO took a turn from being bullish on Bitcoin and slammed the coin over its energy consumption. Since Musk’s criticizing comment on BTC, the cryptocurrency has been declining, currently trading around $37,000.