People used to speculate on what crypto-coin would appear next on Coinbase’s trading platform. At some point, rumors that Ripple would be added to Coinbase support XRP’s price for good weeks, until the exchange operator came with an official response on January 4, 2018, denying rumors and explaining the process for adding new cryptocurrencies. That was the last time when XRP was traded at above $3.80, as it started its bearish trend right after the blog post.
Ripple now has many challenges in the US, as it might be considered security rather than a commodity, which means it might fall under the regulation of the Securities and Exchange Commission (SEC). This translates into more rules, more limitations and less flexibility. The SEC hinted in June 2018 that Bitcoin and Ethereum would be treated as commodities, which was big news for Ethereum fans.
But let’s go back to our matters. The good news is that we have an official plan now from Coinbase. The exchange is working to add the following cryptocurrencies – Cardano (ADA), Zcash (ZEC), Basic Attention Token (BAT), Stellar (XLM), and Ox (ZRX).
So, the next coin to be added on Coinbase will be one from this list. The problem is that Coinbase didn’t mention when it would add the next cryptocurrency. Moreover, the exchange operator said that it didn’t guarantee that it would add all those coins – something might go wrong in the meantime. What is certain at this point is that Coinbase will work in that direction.
It is clear that soon after the Coinbase’s announcement came out, the price of the mentioned coins jumped. Thus, Stellar and Cardano added over 10% in a few hours, BAT rose 22%, ZRX gained 27%, and ZEC added over 15% for the same period.
Stellar and Cardano are big winners from this situation. Stellar has had a cool roadmap for this year with its decentralized exchange plans, and the fact that it will make Coinbase’s list makes it even more attractive.
If Coinbase succeeds with its plans, it means that its list of coins would double, as traders can currently trade only four coins – Bitcoin, Bitcoin Cash, Ethereum, and Litecoin. Traders can choose from 9 coins soon. The exchange is also working to add Ethereum Classic, so the latter might also be a good candidate for “the next coin to be added on Coinbase.”
It’s worth mentioning that when some of the specified 5 coins get listed on Coinbase, they won’t become available in all jurisdictions at once. It’s almost certain that US traders won’t be able to trade them until the SEC doesn’t give the green light.
What’s more interesting is that Coinbase said that we might see more such listing announcements in the future. It’s interesting to see which are the next ones and if Ripple will make the list.
But for now, this is what we have – ADA, ZEC, XLM, BAT, and ZRX. They have passed Coinbase’s conditions and requirements.