Coinbase Pro, the advanced trading platform of the renowned US-based cryptocurrency exchange, has officially announced the upcoming listing of four prominent digital assets: 1inch (1INCH), Enjin Coin (ENJ), NKN (NKN), and Origin Token (OGN). This strategic move is set to provide traders with expanded access to a diverse range of decentralized finance (DeFi) and gaming-related cryptocurrencies, enhancing the platform's comprehensive market offerings.
Trading for these assets is scheduled to commence on or after April 10th at 00:00 Beijing Time, contingent upon meeting standard liquidity conditions. It is important to note that support for these tokens will be available across all Coinbase-supported jurisdictions, with the exception of New York State, due to specific regulatory requirements.
Detailed Overview of the Newly Listed Assets
The inclusion of these tokens represents Coinbase Pro's continued effort to support innovative blockchain projects and provide its users with access to emerging digital economies. Below is a closer look at each project.
1inch (1INCH)
1INCH is the native utility token of the 1inch Network, a leading decentralized exchange (DEX) aggregator. The platform sources liquidity from various exchanges to enable users to execute trades at the best possible rates with low slippage. The token is used for governance, allowing holders to participate in key protocol decisions, and for securing network discounts.
Enjin Coin (ENJ)
ENJ is the core cryptocurrency of the Enjin ecosystem, which is primarily focused on the gaming industry and non-fungible tokens (NFTs). It is used to back the value of digital assets minted on its platform, providing them with tangible value. Developers and gamers use ENJ to create, buy, and sell unique virtual goods across multiple gaming environments.
NKN (NKN)
NKN, or New Kind of Network, is a project dedicated to decentralizing the internet’s infrastructure. Its token powers an open-source protocol for public blockchain-based peer-to-peer networks. NKN aims to incentivize internet users to share network resources and create a new, decentralized data transmission network.
Origin Token (OGN)
OGN is the native token of Origin Protocol, a platform that enables the creation of decentralized marketplaces and e-commerce applications. It is used for governance, staking, and rewarding users within its ecosystem, which focuses on bringing NFTs and decentralized finance to a broader audience.
The Impact on Traders and the Market
Listings on a major exchange like Coinbase Pro often lead to increased visibility, liquidity, and trading volume for the featured assets. For existing holders, this can result in significant price appreciation around the announcement and listing dates. For new investors, it provides a trusted and regulated on-ramp to acquire these tokens using USD and other fiat currencies.
This expansion also signals Coinbase’s confidence in the long-term viability of the DeFi and NFT sectors, encouraging further mainstream adoption of these innovative technologies. For a comprehensive look at real-time trading pairs and market data once these tokens go live, traders can explore the advanced trading dashboard.
How to Prepare for Trading on Coinbase Pro
For users eager to trade 1INCH, ENJ, NKN, or OGN, a few preparatory steps are recommended. First, ensure your Coinbase Pro account is fully verified and funded. It is advisable to transfer existing holdings from a Coinbase.com retail account to the Pro platform to access lower fees and advanced charting tools.
Once trading begins, these assets will typically go through four stages: transfer-only, post-only, limit-only, and finally full trading. This phased approach helps ensure orderly market operation and sufficient liquidity from the outset. Always monitor the official Coinbase Pro blog and status page for the latest updates on the trading launch.
Frequently Asked Questions
What are the trading pairs for these new listings?
Initially, these tokens will be available for trading against major cryptocurrencies like Bitcoin (BTC), Ethereum (ETH), and potentially stablecoins such as US Dollar Coin (USDC). The exact trading pairs will be confirmed by Coinbase Pro when full trading goes live.
Why is New York State excluded from support for these tokens?
New York State operates under a unique regulatory framework requiring a separate license (the BitLicense) for cryptocurrency businesses. Some digital assets may not be approved for trading in the state until they comply with these specific regulatory standards.
Will these tokens also be available on the standard Coinbase retail platform?
Historically, assets listed on Coinbase Pro are often made available on the main Coinbase app at a later date. However, users should check the official announcements from Coinbase for confirmation regarding retail availability.
How does a major exchange listing affect a token's price?
A listing can have a positive impact on a token's price due to increased accessibility, legitimacy, and demand from a larger investor base. This event is often seen as a bullish catalyst, though market conditions can vary.
What is the best way to stay informed about new cryptocurrency listings?
The most reliable method is to follow the official blogs and social media channels of major exchanges. For those looking to track a wider range of opportunities, you can discover more listing alerts and market insights.
Are there any risks associated with trading newly listed assets?
Yes, new listings can be highly volatile. Prices may experience sharp increases (pumps) followed by corrections. It is crucial to conduct your own research, understand the project's fundamentals, and never invest more than you are willing to lose.