Coinbase teases new cryptocurrency assets that it’s ‘exploring’ support for

zcash
0x
cardano
stellar
basicattentiontoken

#1


via tc

Coinbase is taking a look at some new cryptocurrencies to add to its exchange. The list is kind of a pre-announcement with the startup saying that it’s “exploring” adding the assets and is working with local banks and regulators to make them happen.

On the list are…

  1. Cardano (ADA)
  2. Basic Attention Token (BAT)
  3. Stellar Lumens (XLM)
  4. Zcash (ZEC)
  5. 0x (ZRX)

Coinbase is one of the most popular exchange companies and holds quite a bit of sway in directing attention and enthusiasm within the broader blockchain/cryptocurrency space so the exploration announcement is sure to bring some added interest to these particular assets.

Last month, the site announced it was adding Ethereum Classic to the exchange, though in a blog post published today, Coinbase notes that while adding that asset was relatively straightforward, it’s going to take some regulatory work to add any of these new tokens, further noting that they “cannot guarantee they will be listed for trading.”

Coinbase got some flack with the debacle surrounding the rollout of Bitcoin Cash after several users accused the site’s employees of profiting off of advanced knowledge of the news after the token’s value swelled preceding the announcement.

Announcing this might be a way for Coinbase to just hedge some of that by informing the whole community in an earlier stage of the process what directions it is looking in even if every asset doesn’t necessarily end up landing on one of the startup’s exchanges. It’s also a way to prevent speculation and frustration as APIs land on the site that are testing integrations, Coinbase probably doesn’t want people assuming that these are guarantees of future support.


Coinbase is exploring the addition #ADA, #BAT, #XLM ,#ZEC and #ZRX
#2

Hey @john
Curious on your thoughts about this. So I find it hard to believe someone like coinbase is going to add icx which I hold that and bitcoin only. Those are the two that I believe in most after all my research and info from the pub. I know Korean is going to be huge!!! For crypto but it limits the ability for as many people to get into icx without a direct way to buy it from the USA (as of now). Would you spread more around due to this? I know people say to diversify but it’s tough for me to put my money somewhere else that I don’t feel as strong about. What’s ur thoughts??


#3

diversification only works if it is part of your larger strategy. if you’re only into two positions and that’s what you feel comfortable with, then, that’s great. don’t diversify because you feel as if you should or need to.

it’s hard to give financial advice (which is why i don’t do it at all) when I simply cannot know the other person’s full financial context or financial goals. i only know my own.


#4

I did see a post by @john on an article that gave evidence to the fact that 16 coins on average was where portfolio’s did the best in 2017. Not saying that will be the future nor could I suggest it as I find that is too many coins for me to keep track of.

5 coins is my sweet spot. I hold BTC 80% then the remaining 20% is spread across RVN, ICX, ADA, and the last one I haven’t determined yet where I want it. Currently it is in BTCP from when I mined on the pub’s pool just going to hold on to that and see if it will get listed on a major exchange.

Just my thoughts. If I find the article I will post a link.


#5

Thanks John. Definitely not looking for financial advice. I also don’t understand the people who would ever come back to someone and say you said this was a good coin or platform. It’s your own choice at the end of the day. My first got into doing my own investments in the stock market in 2007. You all know how that went and since it was my first time. Of course I sold. That thought me a lot even though the investments weren’t the best to begin with. I just like people’s perspectives. Appreciate what you guys do. Thanks!!!


#6

Would love to see that article if you find it. Thanks!!!


#7

They finally announced what all of us ZRX holders wanted to hear, and I’m stoked for BAT, ADA, and XLM too. Holding decent bags of all 4.


#8

Yep.
I got 3 of the 5 in my portfolio.
:bitrocket: :zrx: :cardano:
Now let’s see if they follow through…


#9

I’m not sure exactly when the blog post went up but he tweet announcement was at 4pm, so I’m guessing it was about the same time.


#10

Source: https://t.me/cryptoguidexperts/1083

image


#11

u own that telegram group or smth? xd


#13

In the article, they say that they are ‘exploring’ the addition of these tokens. They are examining the regulatory hurdles before making any final decisions.

I already had positions in 3 of the 5 coins mentioned. However, I took those positions when BTC was around $7500 and I’m currently underwater in them. I was recently looking to take a position in one of the remaining 2, but wasn’t 100% sure. As soon as I heard about this news, the coin I was considering had already jumped 33%, lol. I took out a position in BAT, and increased my positions in ZRX, ADA, and XLM.

I recapped BCH’s numbers when it hit Coinbase. It was trading around $2280 the day before listing. It spiked to $4100 when it was listed. It dropped back down to $3400 the next day, and then eventually tapered off. That’s roughly an 80% spike on the listing day. The largest gains were during the first 2 days of listing.

I’m curious to see how these coins will be released. If multiple coins are released on the same day, they might dilute the cash flow into each one. We were given a press release about Ethereum classic a few weeks ago and its price has been rising steadily, but it still isn’t available yet. I’ll be curious to see how ETC’s official release goes in this current market. With BTC trading sideways, there might not be a lot of hype around a new token on Coinbase. If the listings come during another bull run, or even with a BTC price of $10k+, that might change the flow of capital as well.

What other factors do you guys think might influence the prices at release?

Will you guys be buying to HODL or swing?

If you plan on HODL/swing, how will you determine an exit strategy for your position(s)?

How do you think the prices of these coins will change once they are no longer tied to the price of BTC (longterm)?


#14

Come on big $zrx fly!


#15

I mean, I can transfer BTC to binance and buy ICX anytime. Is it not legal to do so in the US?


#16

No it’s definitely legal. It just takes some education on how to do those steps as opposed to directly getting fiat to icx. That’s all I meant.