Coinbase Pro is adding support for Dash (DASH), the world’s sixteenth-largest cryptocurrency, starting today at 10 a.m. Pacific Standard Time (PST). Dash, which is optimized for fast, easy-to-use, low-cost payments, joins Bitcoin, XRP, Ethereum, Bitcoin Cash and Litecoin among a total of 24 cryptocurrencies listed on Coinbase Pro.
The San Francisco-based exchange will roll out Dash in four stages by first allowing users to transfer Dash to Coinbase Pro accounts located in Coinbase’s supported jurisdictions, with the exception of New York State and the United Kingdom.
Next, users can start trading DASH/USD and DASH/BTC on or after 9:00 a.m. PST, if liquidity conditions are met.
According to the announcement,
“In the second stage, customers can post limit orders but there will be no matches (completed orders). Order books will be in post-only mode for a minimum of one minute.
In the third stage, limit orders will start matching but customers are unable to submit market orders. Order books will be in limit-only mode for a minimum of ten minutes.
In the final stage, full trading services will be available, including limit, market, and stop orders.”
Coinbase says Dash is not yet available on Coinbase.com or via its mobile apps, and it will not initially support Dash’s special features, including instant confirmations. If and when support for Dash is extended to the larger Coinbase ecosystem, an announcement will be made at that time.
Meanwhile, as Dash rolls out for US traders on Coinbase Pro, Dash Core CEO Ryan Taylor is defending his position, in spite of detractors, that Dash is the most popular cryptocurrency in Venezuela where it is solving real-world problems.
“The progress we made in Venezuela is real. We see evidence of it growing constantly. We’re managing to sign up larger and larger chains.
We just signed up our largest chain: 22 pharmacies in Caracas, and we’re in negotiations with point-of-sale systems at this point. None of that work would be possible without Dash Merchant out there having built up a couple of thousand initial mom-and-pop type merchants. I think that the work in Venezuela is going to continue.”
Dash News author Joël Valenzuela is characterizing the new listing on Coinbase Pro as a tipping point for altcoins.
“This breakthrough seems to indicate that things may be different around crypto land, for so-dubbed ‘altcoins’ in particular.”
Mapping out the road that once led to Dash being labeled as a “scam coin”, Valenzuela sees the Coinbase listing as a stroke of legitimacy and a clear enough sign to turn that narrative around.
“For the longest time, an acute discrepancy existed between the hyped and “respected” projects at the top and all others, completely regardless of innovation or technical soundness. Dash has been the flagship project for disparity between innovation and reputation, and its slow fight upwards may well pave the way for other projects which have been building amazing things without a shred of recognition.
Before, the markets lived and died by what the crypto good old boys said. Now that they have allowed their biggest foe to start breaking into the older and more respected institutions, it may open the doors for other overlooked altcoins. Or, in the parlance of our time: ‘When #altseason?’”