Coinbase is the one of the most popular exchanges in the world and despite suffering some reputation decline in the last month (it’s been heavily criticised for selling customer data recently), it is still an industry giant with a huge customer base. It is also becoming more focused on institutional investors rather than the retail investor, who used to be its main customer up until now.
This is important in a sense that we’ve come to expect that whenever a coin is being listed on Coinbase or Coinbase Pro, that becomes an important event and one that is pretty much always accompanied by a significant pump (price increase) of the market value of that coin.
It comes as no surprise then, that as soon as Coinbase announced 18 cryptocurrencies that are being considered for listings on its platform, these began pumping immediately.
Buy the Rumour, Sell the News
This is a popular expression in the crypto space and this here is a typical example of just that.
In a blog post published just minutes ago, Coinbase explained that these are coins that are being considered for possible listings, although, they would never disclose any coins prior to the actual listing and even mentioning these is really out of the ordinary, but why they decided to do this will stay an enigma for us. We can speculate on their reasoning, but the bottom line is: these are the coins and they are already public knowledge, so you either rush and buy this rumour or you don’t.
The big question is: which of these coins will actually get listed. I don’t think it will be all of them and I can’t pretend that I know which ones will make the cut. I do have my suspicions about KNC, Bancor, OGN, Synthexis, Numerarie and VeChain but this is really a wild guess and one that is based on the fact that these are coins on my radar for a while, so I expect that they’re strong enough projects to make the list. Horizen is also on this list but being a privacy coin, I am not so sure if Coinbase will actually go for it. Will be great if they do, since I am a supporter of ZEN ever since its launch but only time will tell.
In their official post, Coinbase stated:
“Our decision to support any asset requires significant technical and compliance review and may be subject to regulatory approval in some jurisdictions. We therefore cannot guarantee whether or when any above-listed asset will be listed on a Coinbase product in any jurisdiction. As per our listing process, we will add new assets on a jurisdiction-by-jurisdiction basis, subject to applicable review and authorizations…”
They also added :
“Our customers can expect Coinbase to make future, similar announcements as we continue to explore the addition of numerous assets across the platform...”
The official blog post where you can find all of the details of this announcement is : https://blog.coinbase.com/coinbase-continues-to-explore-support-for-new-digital-assets-2c5b84813fcf
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