Coinbase Pro Lists Celo (CELO): Price Skyrockets Amid Enthusiastic Market Response

Celo’s Wild Ride: From Announcement to Trading

The crypto universe can be likened to a rollercoaster where the twists and turns happen faster than you can say “blockchain.” The recent announcement of Coinbase Pro listing Celo’s native token, CELO, has sent the crypto community into a frenzy. With a staggering gain of approximately 55% in the past 24 hours, CELO’s price exploded past $2.70, currently sitting at a breathtaking $4.45. If you blinked, you may have missed it!

Launch Timeline: What to Expect

Coinbase Pro has laid out a clear timeline for CELO’s debut. Starting August 31, deposits will be welcomed with open arms, paving the way for trading to start on September 1 at 9 am PT. But hold your horses! Trading commences only if liquidity conditions are met. And guess what? There are four trading pairs available: CELO/BTC, CELO/USD, CELO/EUR, and CELO/GBP. Sounds like a menu at a fancy restaurant, right?

The Phased Approach: A Gentle Rollercoaster

In a captivating launch strategy, Coinbase Pro will roll out CELO trading in phases. Picture this: First, it’s deposits only—like slowly filling a hot tub! Next, traders will start filling the order books, allowing for limit orders. Finally, the water will reach a bubbling boil with full trading functionality. Patience is key in the world of crypto, and Coinbase appears to have the right recipe for managing market flow.

Market Reactions: The CELO Hypetrain

CELO’s whirlwind performance has raised eyebrows, especially since a recent analysis by Coin Metrics suggested that the impact of newly listed coins on exchanges like Coinbase Pro often fizzles out. They indicated that newly listed markets typically see price outcomes between -1% and +14%. But clearly, CELO didn’t get that memo! As seen with previous tokens like Numeraire (NMR) and Band Protocol (BAND), Coinbase listings can send prices soaring—sometimes too hot to handle!

A Brief History: Celo’s Journey to Coinbase Pro

It wasn’t too long ago when Coinbase first expressed interest in Celo’s token in September 2019, citing it among 17 potential projects for listing. Fast forward to now, and it looks like CELO has parked itself at the top of the list—maybe even earning a star in the crypto hall of fame!