Coinbase to list Dogecoin in its exchange in 6 to 8 weeks

Coinbase is about to list Dogecoin in its exchange

Dogecoin is coming to the one of the famous NASDAQ listed crypto exchange which will only fuel to the growth of its popularity and adoption among crypto users. The CEO of Coinbase  - Brian Armstrong declared on Thursday that Coinbase would add the popular novelty cryptocurrency Dogecoin in the near future. Which is believed to be around 6 to 8 weeks

Armstrong said,"We plan to list DOGE in the next six to eight weeks,". He made the statement on an earnings call following the company's formal release of its first quarter earnings since its listing to NASDAQ stock exchange.


The Dogecoin announcement came in response to a query from a crypto user named Jordi Y, who had asked about it on a Reddit-style forum where Coinbase had solicited questions from its shareholders. The forum  also invited others to "upvote" questions on different crypto currencies, and the Dogecoin o proved the most popular. On the earnings call, Armstrong also noted that the crypto industry and economy is adding "more and more crypto assets," and the process of adding new cryptocurrencies to the process of adding apps to an app store.

The news of Dogecoin bagging a spot on Coinbase comes weeks after Mark Yusko termed Bitcoin as “pure speculation that will end badly in near future." However, until that happens, Dogecoin is the crypto to watch and there is not any single doubt about it.

Primarily, In its early days Coinbase had concentrated on offering Bitcoin (BTC) and Ethereum (ETH), although it also has over 100 altcoins listed on its website(exchange). The company regularly updates users with its plans on increasing its altcoin offerings to meet the market demand.

Another obvious reason why Brian Armstrong’s company wants to increase its crypto offerings is the evident fear of losing customers to its competitors. Popular crypto exchanges like Binance and Robinhood has been dealing with Dogecoin(DOGE) for quite a time and making profits out of it. Many of the cryptocurrency exchange platforms in the market have started going beyond the popular digital currencies. So far, Coinbase has not added some of the tokens that have become popular in recent weeks, including Dogecoin. With this move, Coinbase hopes to rectify the situation and address the market and demands of its users.

Dogecoin Prices Soar

Read more : What is Dogecoin?

The cryptocurrency that started as a joke is now a serious asset. Despite the temporary dip in prices, Dogecoin has registered some serious jump in value over the past weeks. It created much noise when it rose more than $50 billion thanks to backings from big names like Elon Musk and Mark Cuban. On the 6th of May, the ‘Meme’ cryptocurrency surpassed the $77 billion market cap. That was a more than 6,000 percent increase this year alone.

Another popular question on the forum (Redditt) concerned Coinbase's view of decentralized exchanges (DEXs). Armstrong said the company is "very excited" about decentralized finance (DeFi), but offered few details about Coinbase's specific strategy.

With the listing of Dogecoin to the coinbase exchange it will surely take a massive growth in the price. As dogecoins were not easily available for purchase and trade. A lot of exchanges were hesitant to list and trade the crypto currency when the major player in crypto industry steps in for the crypto the sky is the only limit. Elon musk also has been expressive on his views to make the currency of the internet and has mentioned recently in his tweet that he has been working with the developers of dogecoin since 2019 only to make it more better.

Post a Comment