CELO's price has risen more than 50% in less than a day after being listed on the exchange by Coinbase Pro.
One of the largest US crypto exchanges, Coinbase Pro, has announced that it will list the native token of the Celo blockchain platform (CELO).
The price of this cryptocurrency has increased by about 55% from $ 2.70 to over $ 4.45 at press time.
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CELO price chart
Coinbase Pro will start supporting CELO trading from September 1, subject to liquidity conditions. The exchange will support four currency pairs for Celo, allowing users to trade CELO with Bitcoin, USD, EUR and GBP.
Today's CELO boom appears to be in contradiction with the analysis done by CoinMetrics in June. CoinMetrics argues that coins prepared to be listed on Coinbase Pro will have no significant impact on price, if If yes, the adjustment is only 1 to 20%, which is high.
In addition to CELO, Numeraire (NMR) and Band Protocol (BAND) earlier this month also recorded a surge of 150% and 250% in just a few days from the date of listing.
Coinbase first voiced support for CELO last September, when the exchange said that Celo was one of 17 unreleased projects they were considering supporting.