Once again, Coinbase has sent ripples through the crypto community with a recent revelation that the exchange is diving into research about potentially onboarding five new digital assets. The announcement mentions a strategic evaluation of incorporating a handful of fresh assets into the exchange's offerings. Among the assets considered, some were unexpected additions, yet there are a few that have long seemed inevitable due to their rising prominence.
The Five Suspect Lineup
Before diving in, it's crucial to understand that Coinbase is not committing to listing these assets just yet. The firm clarified that they're embarking on a comprehensive study to assess both the technical and legal feasibility of each token.
The digital currencies under scrutiny include a noteworthy lineup, with one glaring omission being quite notorious. Cardano , Basic Attention Token , Zcash , 0x, and Stellar Lumens Back when Coinbase stated their intentions to add Ethereum Classic, the news stirred discontent among investors who were counting on XRP to be next. The current situation is reminiscent, as XRP supporters once again express their dissatisfaction. Ripple XRP .
XRP Supporters Furious
A Twitter user even advocated for XRP holders to 'ditch Coinbase,' given the apparent disinterest in accommodating their preferred asset.
In a tweet, an XRP advocate called for the extensive crypto community backing XRP to abandon Coinbase.
Why are you not even considering #XRP Another vocal XRP backer expressed their disappointment with Coinbase's choices. pic.twitter.com/qsxKj2IViR
— Bull Diep (@DiepSanh) July 13, 2018
Additionally, there was a flurry of tweets lobbying for the inclusion of various other cryptocurrencies, with numerous users suggesting DigiByte and a significant number pushing for Verge.
"ez-toc-section" id="Questions_about_Zcash_Privacy">Questions about Zcash Privacy
While Zcash transactions aren't inherently private, using specific wallets can render them virtually untraceable, sparking curiosity. anonymous transactions There's been speculation that Coinbase might limit Zcash to deposits from transparent, rather than anonymous, origins. A particular note highlighted this:
Read also: How to Mine ZCash
We might only permit certain interaction methods on our platform like supporting funds transfers through non-private Zcash addresses.
Moreover, it's mentioned in the announcement that some assets, if approved, may not be accessible for trading in certain regions. Additionally, trading could be restricted to in-platform actions with no external deposits or withdrawals allowed.
As of now, Coinbase hasn't given any detailed guidance on how such implementations would unfold, since the exploratory phase has just begun.
The statement also provided insights into the scheduled introduction of a confirmed asset.
Ethereum Classic On the Way
Ethereum Classic is already green-lit and will be traded once everything is set up. Unlike the newly announced assets, which are still under evaluation, Ethereum Classic mirrors Ethereum, a long-supported coin by the platform. Ethereum Classic trading support .
Our team is progressing with the integration of Ethereum Classic (ETC) as planned, and this update signals the start of the exploratory phase for additional assets.
The Medium post in question states:
Following Coinbase's update, the five prospective assets witnessed a significant surge in value, with some soaring by up to 25% post-announcement.
The Markets Respond
It's plausible we might see similar upward trends reminiscent of Ethereum Classic's trajectory after its announcement. Nonetheless, there's still a chance that some or none of these assets might be adopted by Coinbase, or they'll be introduced in a limited form.
We anticipate that the initial price boosts from today will soon stabilize, with the next spike likely occurring when Coinbase finalizes which assets will be introduced.
Robert, a News Editor at Blockonomi, stands as a firm proponent of the liberties, privacy, and self-sovereignty that the evolving digital economy promises. His engagement with cryptocurrencies spans several years. Reach Robert@level-up-casino-app.com
