Could Stellar (XLM), Cardano (ADA), and Zcash (ZEC) Be the Next Major Cryptocurrencies to Be Listed on Coinbase? Coinbase Pro listed BAT onto its platform on November 3.
Coinbase has just announced that trading of the Basic Attention Token is soon to be enabled on the Coinbase Pro platform, and deposits of the token are now being accepted. Trading in the token — which runs on Ethereum — will actually begin after a market begins to formulate.
From the announcement:
“Once sufficient liquidity is established, trading on the BAT/USDC order book will start. […] BAT trading will be accessible for users in most jurisdictions, but will not initially be available for residents of the state of New York.”
Today we are announcing that we’re exploring the addition of the following assets to Coinbase: Cardano (ADA), Basic Attention Token (BAT), Stellar Lumens (XLM), Zcash (ZEC) and 0x (ZRX). https://t.co/qoECyR0V1f
— Coinbase (@coinbase) July 13, 2018
XLM, ADA and ZCash expected to be listed in the near future
This week saw Coinbase Pro add Brave Browser’s Basic Attention Token (BAT) onto its platform. The tweet posted on November 3, 2018, states that traders will now be able to deposit BAT on Coinbase Pro.
To no one’s surprise, BAT reacted immediately following the announcement made by Coinbase, as the token experienced a surge of more than 10 percent in its value within a few hours and added approximately $ 55 million in market cap.
For any coin, getting added to a crypto trading platform like Coinbase is nothing short of an achievement.
Earlier this year, Coinbase published a blog post suggesting that it is exploring options to add several new assets on the platform – including Cardano (ADA), Stellar Lumens (XML), ZCash (ZCL), 0x (ZRX), and Basic Attention Token (BAT).
While 0x and BAT have already been added by Coinbase, it still leaves the other three in the queue.
In this article, BlockchainReporter looks at the three potential crypto assets which can start their own mini-rally after getting listed on Coinbase.
Stellar Lumens (XLM)
The Stellar Network (XLM) has witnessed considerable developments in the recent past.
The open-source value exchange protocol launched the world’s first zero-fee exchanged ‘StellarX’ in September. In his Medium post, Stellar co-founder Christian highlighted some features of the newly unveiled exchange platform – including a zero-fee trading mechanism, support for a number of fiat currencies, and complete end-to-end transparency.
On a more recent note, Stellar’s Interstellar announced the launch of its instant payment channel dubbed Starlight. What sets Starlight apart from the traditional transactions on the Stellar Network is that it locks transaction funds immediately in a secure channel where only settlement balances are revealed.
While Starlight might display some characteristics akin to Bitcoin’s Lighting Network, its team states that it goes a step beyond the Lighting Network as its system provides support to secure the payment channel.
At press time, Stellar’s XLM sits comfortably at the sixth position on CoinMarketCap crypto table, trading at $ 0.23 with a market cap of approximately $4.5 billion.
Cardano (ADA)
The 8th biggest cryptocurrency by market cap had a rough time the past few months, as its co-founder Charles Hoskinson expressed his displeasure with the Cardano Community in an open-letter titled “An Open Letter to the Cardano Community from IOHK and Emurgo – Charles Hoskinson [in lead of IOHK] and Ken Kodama [Emurgo]”
Hoskinson expressed his frustration towards the Cardano community, stating that a general lack of direction by the community has greatly hampered the Cardano ecosystem. He added that the absence of a strategic long-term vision, minimal transparency with regard to financial statements, and no internal governance system at the Cardano Foundation have dragged the community-driven project backward.
Despite the brewing tension in the community, Cardano has been able to hold its place among the top 10 coins in the crypto market. The project also has a budding community of believers, whose strength is steadily moving up the map.
At press time, Cardano’s ADA sits comfortably at the eighth position on CoinMarketCap crypto table, trading at $ 0.074 with a market cap of approximately $1.92 billion.
ZCash (ZEC)
Privacy oriented digital currency ZCash finally launched its much anticipated ‘Sapling’ upgrade on October 28.
The Sapling upgrade brought a whole slew of new features and benefits to the ZCash ecosystem, including some fundamental changes that improve efficiency, security, and privacy for users.
Activated on ZCash’s second birthday, Sapling brought improved efficiency for constructing zk-SNARKS, the zero-knowledge proofs that are mandatory to perform the privacy functionality that set Zcash and forked projects apart.
A statement from the blog post announcing the upgrade reads in part:
“Sapling introduces new shielded addresses with significantly improved performance: a time reduction of 90% for constructing transactions, and a memory reduction of over 97%.”
Blockchainreporter reported another positive development for the ZCash community, Ethereum focused startup Parity Technologies announced its partnership with the privacy-centric project with an aim to move towards greater decentralization.
At press time, ZCash’s ZEC sits comfortably at the nineteenth position on CoinMarketCap crypto table, trading at $ 118.80 with a market cap of approximately $612 million.
