Coinbase’s range of assets – a bullish sign?

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Recently Coinbase came out with a blog post announcing a broad range exploration of assets. These assets include Cardano (ADA), Aeternity (AE), Aragon (ANT), Bread Wallet (BRD), Civic (CVC), Dai (DAI), district0x (DNT), EnjinCoin (ENJ), EOS (EOS), Golem Network (GNT), IOST (IOST), Kin (KIN), Kyber Network (KNC), ChainLink (LINK), Loom Network (LOOM), Loopring (LRC), Decentraland (MANA), Mainframe (MFT), Maker (MKR), NEO (NEO), OmiseGo (OMG), Po.et (POE), QuarkChain (QKC), Augur (REP), Request Network (REQ), Status (SNT), Storj (STORJ), Stellar (XLM), XRP (XRP), Tezos (XTZ), and Zilliqa (ZIL).

Not all will be available for everyone

Coinbase explained that not all assets would be available for everyone. That highly depends on the law of the specific jurisdiction. “Some of these assets may become available everywhere, while others may only be supported in specific jurisdictions,” they say in their blog post. They are working closely with local banks and regulators to add these assets in as many jurisdictions as possible. Also, some assets might be only available for hodling, they reveal in their post, saying that “our listing process may result in some of these assets being listed solely for customers to buy and sell, without the ability to send or receive using a local wallet.”

Why now?

This decision by Coinbase comes not precisely as a surprise, but it raises a specific question. Does Coinbase know something that we don’t know? Why explore the addition of these assets only now? Of course, “now” is a stretched term, and they already announced this in September, but all of these assets have lost more than 90% of their all-time high value. Is Coinbase discretely signaling of a bull market approaching?

“Over time, we intend to offer our customers access to greater than 90% of all compliant digital assets by market cap.”

Isn’t this a little late? Multiple services are offering this already, so what would set Coinbase aside from them? However, the motivation is bright for this, the market is getting larger, and people want to hold their assets in one place. On the other hand, this could have been a great feature last year, during the ICO craze.

As reported previously, Coinbase first added the support of Basic Attention Token (BAT). Then without notice, they added 0x (ZRX), and just recently, Coinbase added Zcash (ZEC) to their multiple platforms.

Source:

https://goo.gl/N4KW2Z

Coinbase unexpectedly lists 0x, still no sign of XRP!

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Yesterday, October 16th, Coinbase came out with an announcement of adding 0x (ZRX) to their cryptocurrency platforms Coinbase.com and iOS and Android mobile apps. ZRX is now available for buying, selling, storing, sending or receiving, but not yet for trading. It is available to all the customers except residents in the United Kingdom and in the state of New York. 

ZRX or 0x, is an Ethereum blockchain based open protocol designed for decentralized exchanges. With the help of the protocol, decentralized exchanges can speed up the order book process and could eliminate some of the unnecessary transaction fees.

Of course, the Twitter thread under the announcement, as always, went mad because of the reluctance of the Ripple supporters. A lot of tweeters showed confusion, asking what was the above mentioned ZRX, and why Coinbase didn’t add Ripple instead. @alansturgis1 says: “Still in shock you list ZRX but not XRP. Makes no sense at all! Your business ideology is a mystery.”

Some even got offended like @Andyram2k and said things like: “Who says we want #XRP to be on Coinbase? Its gone from a potential outcome to a meme. I think Coinbase needs XRP more than XRP needs Coinbase”

One thing we know for a fact – the Ripple community is very large, and they are willing to defend their asset at any given time. The best thing, what can I say about Ripple, which I read somewhere on the internet, was – Ripple is the Top3 most popular crypto asset in the world, and has been sitting there for quite a while. They have reached these highs with no help of Coinbase. Coinbase has helped Bitcoin, Litecoin and Ethereum in the long run, because last year, Coinbase had 50k users joining their platform per day, and it is the top crypto mobile app in the world! And tell me that doesn’t affect the market of the mentioned assets.

But since Coinbase came out earlier saying that they are willing to add as many crypto assets as possible, I believe the time of adding XRP will also come soon and we could be seeing a lot of new assets added on Coinbase platforms in the near future.

Source:
https://goo.gl/AFXwX1
https://goo.gl/CnzKrq
https://goo.gl/CWsQPw
https://goo.gl/GwYz9U

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