Major cryptocurrency exchange, Coinbase is reportedly building a new matching engine as the market is turning into a bull graph. With its new matching engine, Coinbase is heading up for the ‘next super major run-up’.
Something that Coinbase will be Prescriptive with
Recent reports highlight why and how Coinbase, the major United States cryptocurrency exchange is preparing for a matching engine. It was however confirmed by Paul Bauerschmidt, product manager for Coinbase Market who discussed high volumes during the past few weeks and the all-time high of Bitcoin in the year 2017. He says that;
“At the end of 2017, the go-go days, we all mutually realized we need to re-think the way we were approaching this problem,”
Per the report, the new matching machine of Coinbase is already evolving in Chicago which is reportedly expected to happen by end of second Quarter 2019. The exchange is looking to improve its infrastructure henceforth the team is migrating to a new matching engine. Bauerschmidt also stated that many aspects have already been implemented, adding that it is ‘something we will be prescriptive with’. He notes that;
“We’ve been doing really well and have already implemented a bunch of improvements around the asset-listing process.”
On top of all, Bauerschmidt excitedly points at Coinbase’s plan for ‘the next super major run-up’. In a nutshell, he added;
“This transition from web technology to true low latency engines is a mega transition that will materially change the way crypto works,”
Coinbase Pro Trading Volume Declined to a Two Year Low
But on the other hand, the TradeBlock researched, trading volume at Coinbase Pro has declined to a two year low. As such, these crypto exchanges fluctuate their trading fees with the fluctuation of Bitcoin price. In fact, Coingape reported, the lesser the Bitcoin price, the higher the Bitcoin fees across crypto exchanges whereas when the price goes up, trading fees will apparently decline.
TradeBlock analyzed the monthly trading volume at Coinbase Pro which states;
We analyzed all digital currencies that have a USD pair listed on Coinbase Pro — one of the largest US-based exchanges by volume. In the chart below, we diagrammed USD equivalent trading volume across eight listed pairs. As shown, monthly trading volume at Coinbase Pro has declined to a two year low — trading volumes in March 2019 at Coinbase Pro recorded the lowest levels since April 2017.
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Tabassum is a full-time content writer at Coingape. Her passion lies in writing and delivering apt information to users. Currently, she does not hold any form of cryptocurrencies. Follow her on Twitter at @Tabassumnaiz and reach out to her at Tabassum[at]coingape.com