Coinbase, a large United States-based crypto money exchange, announced a new market structure in a blog post published on March 15 for the professional trading platform Coinbase Pro.
In order to increase the liquidity, the announcement made to announce the changes made aims to increase the price and provide more smooth price movements. The changes include a new fee structure designed to increase liquidity, increase the maximum number of orders, increase the liquidity and close the wrong market orders.
Coinbase Pro Raised Prices to Increase Liquidity
According to the announcement, Coinbase Pro and Coinbase Prime - the firm's corporate trading platform - will cut back on-market transaction order support. The announcement also states that all stop orders must now be presented as limit orders and include a limit price. explains.
On the other hand, market protection points to be introduced to both Coinbase Prime and Coinbase Pro users will be up to 10 percent for all market orders. The statement explains that market orders moving at more than 10 percent will stop running and bring a partial fill.
Finally, the article warns that the platform will be offline on the PDT until March 6, from 6:00 to 6:30.
Coinbase Pro Liquidity Change
The changes were met with some skepticism and negativity from the crypto community on social media. Economist and trader Alex Krüger on Twitter
“Coinbase Pro raises charges by 33% for smaller customers while lowering fees for larger customers, Pro he complained.
Same user also “In a rational world, most Coinbase users are now going to be funded“ told.
In the same Twitter article, Krüger also questioned Coinbase's decision to deactivate the stop market orders, and suggested that stop-limit orders could sometimes not be executed due to a shift, but as a temporary solution to limit limits. Nevertheless, Krüger also admitted that these changes should lead to an increase in liquidity and trade activity.
Another crypto trader on Twitter, apparently of the new wage structure cryptocurrency to target new users in the domain:
A It is not known why he moves randomly to raise all fees, but does Coinbase presumably predict a new bull run? “
Coinbase Pro, for subcoin Stellar Lumens (XLM) they support also touched.
Source: Cointelegraph