Crypto exchange Coinbase recently unveiled its plan to merge its USD and USDC order books in mid-July. With the announcement of the same on a Twitter thread, the stock market said it intends to increase liquidity.
“On July 13, Coinbase Exchange will merge USD and USDC order books. As part of the unification process, USDC order books will be merged under USD order books to create a better, more seamless trading experience with deeper liquidity for USD and USDC.
The changes, as such, will affect Coinbase Exchange, Coinbase Prime, Coinbase Pro and Advanced Trade users. However, the website and mobile application users will not be affected by these changes.
Regarding how things will work for different users, the balance is united, Coinbase explained:
All open USDC orders on July 13th will be canceled. Users will need to place new orders on the USD book to proceed with their transactions.
SHIB among hand-picked coins that performed well after the Coinbase listing
Despite the USD-USDC order book merger, Shiba Inu is one of the few currencies still trading above its Coinbase listing price.
According to the pseudonym On-chain analyst Onchain Wizard’s analysis, coins listed on Coinbase in 2021-2022 lost an average of 72% of their value. However, their median price performance was much lower at -82%.
Out of about 125 cryptocurrencies listed in the said period, only 10 outperformed Bitcoin. Shiba Inu in particular was “the best performer”, with a 49% increase from its June 24 listing price. In addition, it can be deduced from the long list in the thread that Shiba Inu outperformed Bitcoin by a significant 105%.
Here, too, it is interesting to note that Shiba Inu is “shining” in the current market conditions as its acceptance is increasing.
On Thursday, as most top cryptocurrencies lost 5% -8% of their value, SHIB was down only 1%. With a market capitalization of $ 5.3 billion, SHIB traded at $ 0.0000097 at the time of going to press.