One of the biggest cryptocurrency exchanges in the United States, Coinbase recently created a new market structure for its professional trading platform, Coinbase Pro. The new updated structure mainly targets to increase liquidity, ensure easier price movements and improve price adaption.
The updated market structure included introduction of a new structure for fees that is designed to increase the liquidity in the market. Also, the new market structure would switch off stop-market orders and adds protection for market orders.
According to the official reports, Coinbase’s trading platforms Coinbase Prime and Coinbase Pro will discontinue support for stop market orders. In the future instead of stop orders limit orders has to be submitted with a limit price.
The exchange also warned its users that the platform will be offline on March 22 from 6:00pm PTD to 6.30pm PTD.
Coinbase’s updates received both positive and negative reviews. Traders and users were feeling skepticism from the crypto-community and Twitter crypto space. Trader and economist Alex Kruger shared that Coinbase Pro raised fees for smaller clients by a massive 33%, but had reduced its fees for the bigger clients. According to Kruger, most clients of Coinbase would move their business to Binance.
He further raised questions on the Coinbase’s decision to restrict offering support for stop market orders. According to him the stop limit orders occasionally did not happen due to slippage. Also, he suggested using far-off limits on such orders.
Despite the criticism Kruger supported that the changes that Coinbase had made to its marketplace will lead to increased liquidity as well as activity in selling and buying.
World’s leading cryptocurrency exchange Coinbase recently announced its official non-custodial crypto wallet app for iOS and Android. The Wallet can be linked to users’ Coinbase.com account. This update will allow users to transfer cryptos to their Wallet directly without any hustle.