For any investor in a cryptocurrency project, whether it gains traction or not, a listing on a major exchange such as Binance or Coinbase is always good news. It happens that in the case of the latter, it communicates regularly on the assets that it plans to add. The holders of DigiByte, Horizen, Numeraire, SiaCoin and VeChain were therefore delighted to see their name appear on a list of 18 cryptos which can soon be bought or sold on Coinbase.
The 18 cryptos studied by Coinbase
Coinbase revealed the information in a blog post on June 10. here is full list of these 18 crypto currencies which could be exchanged soon on this platform (presented in alphabetical order):
- KEEP Network
- Origin Protocol
- Render Network
- SKALE Network
Why this announcement?
When Coinbase or another exchange explores the addition of new assets, elements of heralding can be seen in the code of her site, in her APIs. Since this has spawned speculation in the past, Coinbase seems to prefer to play the transparency card. That said, Coinbase specifies in its press release that it reserves the right to add a crypto which has not been the subject of such an announcement …
When will we have the answer?
Coinbase did not communicate the deadline for this decision. The statement said it was a time-consuming process in terms of technical and legal analysis. There is therefore no guarantee that these assets will be on Coinbase. Availability may also be limited to certain regions, depending on local laws. This is something new in the process of adding an active Coinbase : the listings will now be validated jurisdiction by jurisdiction.
What are the criteria for listing Coinbase ?
In his post, Coinbase states that it wants to support all assets that meet its technical standards and that comply with applicable laws. Ultimately, the US stock exchange hopes cover at least 90% of the total market value of cryptos. The analysis is based on criteria such as security, compliance and the objective pursued. The mission of the cryptos listed by Coinbase must be in line with hers. Namely, creating an open financial system for all citizens of the planet.
The price of these 18 cryptos goes up
Even if it is only a declaration of intent, these 18 crypto currencies already benefit from the effect Coinbase. For example, Siacoin was up just over 13% on Thursday morning, VeChain by 14%, Horizen by 22%, Synthetix by 14%, Bancor by 16%, and Numeraire by 12% to name a few top 100 cryptos concerned.
From Joachim: Source link