Even if the bull market has currently stopped and the price movements have calmed down somewhat after weeks of enormous volatility, the development on the crypto market does not stand still. Coinbase, one of the largest exchanges for trading cryptocurrencies worldwide, announced in a blog post that it is examining a total of 37 cryptocurrencies for potential listing. Which one will make it?
37 new potential digital assets for Coinbase
Coinbase claims to be very careful when listing new cryptocurrencies. An exception was made with the crypto currencies UNI, the token from Unsiwap, which was listed on the stock exchange as quickly as possible due to the enormous hype. But new cryptocurrencies regularly go through a test program before customers can trade them on the stock exchange.
In a blog post on October 16, the Exchange announced that it would investigate 37 new digital assets. Which and how many of them actually make it onto the stock exchange remains a secret, as always.
Coinbase considers the following cryptocurrencies for listing: Aave (AAVE), Amp (AMP), Ampleforth (AMPL), Ankr (ANKR), ArCoin (ArCoin), Audius (AUDS), Barnbridge (BOND), BitTorrent Token (BTT), Centrifuge (RAD), Conflux Network (CFX ), Curve (CRV), DFI.Money (YFII), Elrond Gold (EGLD), JUST (JST), JUST Stablecoin (USDJ), Meta (MTA), MovieBloc (MBL), mStable (MUSD), Neo (NEO) , Nervos (CKB), Nexus Mutual (NXM), NKN (NKN), NuCypher (NU), Ontology (ONT), Paxos Gold (PAXG), Paxos Standard (PAX), Reserve (RSV), Reserve Rights (RSR), Request Network (REQ), Skale (SKL), SUN Token (SUN), tBTC (TBTC), Terra (LUNA), The Graph (GRT), Tron (TRX), VeChain (VET), WING (WING), WINK ( WIN), Wrapped Bitcoin (WBTC)
As a long-term goal, Coinbase wants to provide cryptocurrencies that make up 90% of the global market cap. In the course of this, the digital assets listed above will be examined in the near future and should lead to listing by one or the other.
The "Coinbase Effect"
In late 2017 and early 2018, during the heyday of the crypto bull market and the wedding of the ICOs, there was talk of the so-called coinbase effect. Listing on one of the largest stock exchanges in the world was quite likely to result in an enormous price increase.
This effect was recently observed, for example, in the listing of Algorand (ALGO), OmiseGo (OMG) and Maker (MKR). After Coinbase officially announced that it would list Maker (MKR) on Coinbase Pro, the price gained more than 30% - within just an hour. The OMG cryptocurrency even rose by more than 150% as a result of the listing.
However, after the enormous price increases of many cryptocurrencies have calmed down somewhat within the last few months, and many Altcoins have suffered high losses and enormous price drops, it remains to be seen whether the Coinbase effect will also occur in this market situation.
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