Coinbase

Coinbase Is Exploring The Addition Of Cardano, Zcash, Stellar, BAT And 0x Onto Its Platform

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.

Coinbase Tweeted:

Also Read:


Discuss this news on our Telegram Community. Subscribe to us on Google news and do follow us on Twitter @Blockmanity

Did you like the news you just read? Please leave a feedback to help us serve you better

Disclaimer: Blockmanity is a news portal and does not provide any financial advice. Blockmanity's role is to inform the cryptocurrency and blockchain community about what's going on in this space. Please do your own due diligence before making any investment. Blockmanity won't be responsible for any loss of funds.

Shrikar Parashar

Shrikar is a Blockchain evangelist. He is a die-hard fan of security tokens. He follows the market closely but does not trade. He believes in Hodling.

Share
Published by
Shrikar Parashar

Recent Posts

Bullish Signals for Sui Blockchain: Top SUI meme projects of 2024

Macro guru and Real Vision CEO Raoul Pal shone the spotlight on a rising layer-1…

1 month ago

AI Companions: A New Era of Digital Relationships and Virtual Experiences

As the technology landscape transforms at lightning speed, AI Companions has positioned itself as a…

2 months ago

zkCross Network: Simplifying DeFi Complexity and Achieving Fundraising Success

Did you know that 85% of DeFi value is concentrated in six blockchains?  DeFi is…

2 months ago

Don’t Miss Out: Get $CLP Tokens in the Exclusive RWA IDO Now!

CLAPART - a groundbreaking RWA platform has launched its much-anticipated $CLP token IDO on Gempad…

2 months ago

Step into the Future of Web3 at Blockchain Futuristic Conference 2024, August 13-14

Join us at BFC 2024 to explore the future of Web3. Use a special discount…

3 months ago

WebX Asia 2024: Web3 Innovation Ignites in Tokyo

Catch all the updates with Altcoin Observer, official media partner of WebX Asia 2024. Gear…

3 months ago