Coinbase has announced that the ERC-20 token called Basic Attention Token (BAT) will now be listed on Coinbase Pro, according to an official blog post from November 2nd.
The BAT token will be added to Coinbase’s platform “Coinbase Pro” and will allow trading with the trading couple BAT / USD. However, the trading pair will only be made available if sufficient liquidity is available. Coinbase points out that BAT trading will be available in most jurisdictions, with the exception of New York State residents.
BAT is currently not available on Coinbase.com’s online website and in their iOS and Android apps.
According to the official blog post, BAT trades take place in four different phases.
With the “Transfer-Only” users are only able to transfer BAT to “Coinbase Pro” accounts. Then the order books are first held for 12 hours before the customer can order limit orders (post-only). The other two phases include limit-only, where limit orders begin reconciliation, but customers can not make market orders. Finally, the final phase called “Full Trading” provides full access to trading, including limit, market and stop orders.
After the announcement of Coinbase the BAT price rose by more than 20% per day and reached according to CoinMarketCap $ 0.315. The token’s market capitalization is approximately $ 305 million, while its daily trading volume exceeds $ 42 million.
BAT is an Ethereum-based token built into the blockchain-based web browser Brave. During his Initial Coin Offerings (ICO) for BAT, Brave raised around $ 35 million in 30 seconds.
As previously reported, Coinbase launched trading for 0x (ZRX) in October, making it the first ERC-20 token available on the trading platform. In the same month, the exchange also launched the first US dollar Stablecoin on the platform, USDC, in partnership with blockchain-powered payment technology company Circle.