An immense cyber money bourse in the US – Coinbase – might add five other digital coins to its platform. At the moment, the company is examining the potential move, whereas the crypto-community is “feasting” the yet-to-come changes.
Sprawling Coinbase
According to CNBC’s last week report, Coinbase is looking into swelling the ranks of its tokens by adding such units as:
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- Cardano
- Basic Attention Token
- Stellar Lumens
- Zcash
- 0x
Coinbase notified about its plans in a blog post, mentioning that still these currencies would have to go through exploration. Also, the San-Francisco-headquartered venue cautioned that there was no guarantee that on balance it would list these cryptos.
The platform concluded that some coins might be restricted in their functionality and that the platform has not defined whether they are securities or not. Furthermore, some of them might become able only in some, not all, countries where the exchange provides its services.
Extraordinary Soaring
A cyber-trader Brian Kelly, who answered CNBC’s inquiries, assumed it wouldn’t be unexpected if all these five tokens soar during the weekend amid the announcement.
And they did. The news came out on Friday, July 13, and Cardano jumped up from $0.128 to $0.14. Moreover, this coin continued growing until July 16, and it is likely to stay afloat even for longer. Absolutely the same occurred to the other four currencies. Afterward, the coins continued skyrocketing, adding from 4% to 18% daily.
Kelly, by the way, is a constitutor and a top exec of BKCM LLC, an investment firm which specializes in virtual tokens. He said he was mostly bullish about Zcash and 0x, however, he is generally positive about each of the new Coinbase’s coins.
But what is so special about these four coins that Coinbase started considering listing them on the platform?
The Phenomenon of Four Coins
Talking to CNBC, Brian Kelly explained what makes each of the coins may be attractive to investors.
Cardano
The expert compared it to the ether. Among the two coins’ similarities, there is the working net and live roadmap. He also added the US Securities and Exchange Commission said it was crucial. Finally, Cardano isn’t a security, he said.
Before the announcement, Cardano was trading at $0.128, and a few hours later it soared to $0.14.
Basic Attention Token
This one can be used as means of payment for content on the Internet, and it provides add-free experience.
BAT added $0.063, and after the positive news, it crept to the mark of $0.336.
0X
According to Kelly, “Zero X” is “up and running.”
Initially, this coin’s price was $0.83 but thanks to Coinbase it went up to $0.97.
Stellar Lumens
BKCM LLC compared it to Ripple’s XRP. Stellar also saw a considerable growth – from $0.186 to $0.194.
Zcash
One of the main benefits of this coin is that it’s exclusively private – it is possible for users to send it anywhere without people being aware of it. By the way, amid good news, Zcash added $21. Previously, its price was $161.
Kelly also added that there’s a high possibility that Zcash will be the one to see itself on Coinbase’s list as long as it has previously been approved by another exchange – Gemini.
