Stellar Lumens boosted by Coinbase Pro listing announcement

Stellar Lumens had another great day. The 8th largest cryptocurrency with the market capitalization of $2.08B has gained nearly 5% in recent 24 hours and over 20% since the beginning of the week. XLM/USD rushed above $0.11 handle on Wednesday, but the move proved to be unsustainable as the coin retreated to $0.1080 by the time of writing.

Within the recent development, the leading US-based cryptocurrency exchange Coinbase Pro added Stellar Lumens (XLM) to the list of tradable assets.

"Inbound transfers for XLM are now available in the regions where trading is supported. Traders cannot place orders, and no orders will be filled. Order books will be in a transfer-only mode for a minimum of 12 hours,” the company announced in its Twitter account.

The coin is now available for all Coinbase customers in supported jurisdictions except for New York State.

At this point, traders can deposit their accounts with XLM coins, while the trading will start later during the day. In accordance with the exchange practices, any new coin is available for trading no sooner than in 12 hours after the listing announcement.

Stellar’s technical picture

The primary support for XLM/USD is now created by psychological $0.10 followed by DMA100 at $0.0979. A sustainable move lower will signal that the coin has topped out. On the upside, we need to get back above $0.1100 with the next focus on Wednesday’s high $0.1130.

XLM/USD, a daily chart