Coinbase the biggest Crypto to Fiat exchange in the US has announced that it is exploring the addition of 5 tokens onto its platform: Cardano (ADA), Zcash (ZEC), Stellar Lumens (XLM), Basic Attention Token (BAT) and 0x (ZRX).
People have been speculating as to which Cryptocurrency would be added to the Coinbase exchange which has a huge userbase of 20 Million. Recently Coinbase had unexpectedly announced the addition of Ethereum Classic (ETC) onto its platform after which it pumped over 25%.
In its blog post, Coinbase has stated that it is “exploring” the addition of these 5 tokens which does not guarantee the addition of all these tokens, and all of these coins may not be available in all jurisdictions.
They mention in the tweet:
Please note that we are not guaranteeing the listing of any of these assets. We may list them with partial support, or only in specific jurisdictions. In particular, some assets may become available in other countries before the US.
It is interesting to note that the markets had been sideways until the announcement and pumped straight up after the announcement. Zcash (ZEC) pumped over 17%, 0x (ZRX) over 16%, Cardano (ADA) over 12% BAT over 22% and Stellar (XLM) over 7.5% in just a matter of minutes.
Some of the users on Twitter have reasonably accused Coinbase of insider trading due to the sudden pump.
Coinbase had announced a while back of their plans to eventually support ERC20 tokens but never disclosed what tokens would be added, many speculators had predicted that 0x would be added due to the close relationship between the founders and the Coinbase team, they were right about that.
But this news would come as a surprise to the rival Cryptocurrencies of Stellar and Zcash which are Ripple (XRP) and Monero (XMR). It is understandable why it would be difficult to expect Monero to be added because of its privacy features which the regulators would not be happy about and this can be eliminated with Zcash by allowing only the transparent transactions onto the exchange.
But their plans of adding Stellar would baffle Ripple followers as Stellar is a project which is somewhat similar to Ripple, and was even sprouted out of Ripple’s early founding member which might raise the questions as to why XRP is not being considered and whether the reason might be that it might be a security after all.
Today we are announcing that we’re exploring the addition of the following assets to Coinbase: Cardano (ADA), Basic Attention Token (BAT), Stellar Lumens (XLM), Zcash (ZEC) and 0x (ZRX). https://t.co/qoECyR0V1f
— Coinbase (@coinbase) July 13, 2018
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