Cobinhood Surges 58% After Announcing Margin Trading Beta and Fiat Trading Pairs
The token price of COBINHOOD (COB), the first zero-fee cryptocurrency exchange, has surged over 50% this week on the back of two major announcements, including the launch of the exchange’s beta for margin trading and the unveiling of fiat trading pairs.
— COBINHOOD (@COBINHOOD) July 10, 2018
COBINHOOD’s margin trading beta invited 100 testers to begin testing the new system on July 13. Margin trading was kicked off allowing up to 3x leverage and three trading pairs: BTC/USDT, ETH/USDT and COB/ETH.
More recently, COBINHOOD revealed that starting on July 20, investors will be able to fund their accounts with USD and utilize a number of fiat trading pairs. In an official announcement, Popo Chen, founder of COBINHOOD, highlights the timeliness of introducing fiat trading pairs to the exchange.
Traders know there are opportunities abound for value, so it’s a very synergistic time to debut fiat trading on the COBINHOOD platform. There’s no doubt in my mind that many value investors were waiting on the sidelines until prices rationalized, and so the near term promises to be an exciting time for exchanges that can offer the liquidity fiat options provide.
COBINHOOD also recently announced a simplified ERC-20 token listing process that allows projects to be listed in as little as one day.
The COBINHOOD token (COB) has surged from around $0.0348 to around $0.0549, representing a nearly 58% gain. The project now has a market cap of $20 million.
Disclaimer: This article’s author has cryptocurrency holdings that can be tracked here. This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.