Everybody wonders what new cryptocurrencies will be chosen by Coinbase to be listed next. Could it be Cardano’s Ada, Stellar Lumens’ XLM and Zcash’s ZEC? BAT is already listed now.
The Basic Attention Token is about to go live at Coinbase, deposits in that currency are being accepted since last November 3rd. It is not an autonomous token, it runs on Ethereum’s technology, but that’s fine by the exchange. The company’s announcement said,
“Once sufficient liquidity is established, trading on the BAT/USDC order book will start. […] BAT trading will be accessible for users in most jurisdictions, but will not initially be available for residents of the state of New York.”
You may be wondering how is it that BAT fits into this story. Well, last July 13th, Coinbase announced it was exploring the option to add the BAT to its platform as well as Cardano, Stellar Lumens, Zcash and 0x.
So Bat is live now. What about the other ones? We (and many other crypto observers) expect some other cryptocurrencies to be supported by Coinbase in the near future.
It’s no surprise that the BAT market reacted favorably following Coinbase’s announcement. BAT grew by about 10% after November 3rd and gained something like $55 million in market capitalization just because of that tweet.
Getting listed at Coinbase is nothing less than any blockchain project’s wet dream. It’s a huge achievement because it adds a lot of value and trade volume to any digital asset that can manage it.
Coinbase already supports 0x and BAT. So what will happen to Cardano, Stellar, and Zcash? Let’s see.
Stellar Lumens (XLM)
The Stellar Lumens project has had some really good news recently.
Only last September they created the world’s first zero-fee StellarX exchange. This exchange supports several fiat currencies, it charges no fees, it offers total end-to-end transparency, and IBM supports it, at least implicitly.
Then, there’s Starlight. It’s Stellar’s instant payment system. Stellar’s competitive advantage is that it locks transactions funds right away in a secure channel in which only final balances are made public.
Starlight could seem similar to Bitcoin’s Lighting Network, but Stellar’s team says their system is more advanced s it provides support to secure payment channels.
As we write this Stellar’s XLM is trading in the green at $0.258, ranked sixth with a market capitalization worth $4,903,853,892.
ADA is already the eighth most significant digital asset by market capitalization. It’s not been doing that well lately and Charles Hoskinson, the project’s co-founder, was not afraid to manifest his displeasure to the community in the form of an open letter.
The letter explained how, in Mr. Hoskinson’s view, Cardano community is in needs of proper direction and that is hampering the ecosystem as a whole. The lack of a strategic and long-vision (and transparency) regarding financial statements are dragging the Cardano project backward. Charles also believes that the company needs better internal governance too.
There is tension within Cardano, for sure. But even so, the coin is holding its position among the world’s top ten for quite some time now. Also, the community is still growing, it believes and it’s driving the token up.
It remains at 8th place the by market cap, trading in the red at $0.075 as we write this article.
ZCash recently deployed “Sapling,” an upgrade that brought many new features to the project. It increased efficiency, privacy and security for users. It happened as ZCash turned two years old. In the development team’s words: “Sapling introduces new shielded addresses with significantly improved performance: a time reduction of 90% for constructing transactions, and a memory reduction of over 97%.”
ZEC is trading in green numbers by a fraction at $134.01, but despite its high price, it’s at 19th number in the world by market capitalization.
We can’t know for sure which new cryptocurrencies will be supported by Coinbase, but these are three extremely promising prospects. Keep an eye on them and on Coinbase’s announcements which, of course, we will report for you in due time.
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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.
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