Coinbase announced last Wednesday, September 29, through its Twitter account, that incoming transfers for AVAX are now available in regions where trading is supported. The company indicated that merchants cannot place orders and orders will not be fulfilled. Operations will begin at 9 a.m. M. PT on Thursday, September 30, if the liquidity conditions are met.
“Starting today, Wednesday, September 29, transfer AVAX to your Coinbase Pro account prior to trading. Support for AVAX will generally be available in Coinbase’s supported jurisdictions with certain exceptions as noted on each asset page here. The negotiation will begin at 9 a.m., Pacific time (PT), on Thursday, September 30, if the liquidity conditions are met”, he said through an article published on the Medium platform.
The company indicated that once a sufficient supply of AVAX is established on the platform, trading on our AVAX -USD, AVAX -USDT and AVAX -eur order books will be launched in three phases, post-only, limit of only the trade and full. If at any time one of the new order books fails to meet our assessment of a healthy and orderly market, we may keep the book in a state for a longer period or suspend trading in accordance with our Trading Rules.
Avalanche (AVAX) describes itself as an open and programmable smart contract platform for decentralized applications. AVAX is used to pay transaction fees and can be wagered to protect the network. Avalanche supports Solidity, the Ethereum programming language, and can be used to implement custom private or public blockchains as “subnets”.
According to the company, AVAX is not yet available on Coinbase.com or through our consumer mobile apps. We will make a separate announcement when this support is added.