Coinbase to List Dogecoin in 6 Weeks

Deepshikha  |  May 14, 2021

Dogecoin is having a great 2021, as the skyrocketing success of the meme coin is now in every investor’s mind.  In the latest development, Coinbase has announced listing the meme coin after its massive gains.

DOGE to Be Listed in 6 Weeks

As per reports,

"The company announced $1.80 billion of revenue, $585 million more than the fourth quarter of 2020, and $191 million more than its results from a year ago."

Most of the capital is driven by the increased profits in cryptocurrencies. The Exchange has benefited from the fees generated by every trade made on the platform. 

The official announcement from Coinbase Global Inc makes note of the release of its first-quarter 2021 shareholder letter, where the shareholder letter includes the financial results of the company. The exchange also benefited from the IPO, which has undoubtedly increased confidence in the brand. Since Coinbase has become a benchmark for the U.S. institution, the investors seek opportunities to further increase their exposure in the crypto-sphere. 

As per the data, Coinbase shares have shown a significant surge of 3% in the after-hours trading session, which surely brought positive results. The leading cryptocurrency exchange in the United States, Coinbase, facilitates a trading platform, a wallet, a custody service, and blockchain analytics services to its users. 

What Coinbase has to Say 

As the announcement came from the leading crypto exchange of the United States, for listing Dogecoin, in a span of six to eight weeks, the price of the meme cryptocurrency is making investors turn their heads towards it. 

According to Brian Armstrong, CEO of Coinbase,

“The decision was in stark contrast to its previous image as a company that only listed serious projects with solid fundamentals; Dogecoin is definitely the absolute opposite of this philosophy. But the laws of competition in the markets can outweigh personal philosophies. Our competitors are supporting certain crypto assets that are experiencing large trading volume and growth in market capitalization that we do not currently support, as well as offering new products and services that we do not offer.”

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