-Header image courtesy CryptoSimba on Twitter. Follow him for more spicy crypto memes, and say BlockDelta sent you 😀
If you’ve been keeping track of crypto twitter at all today, you may be aware that Coinbase kicked up some real buzz with their tweet announcing that they are “Exploring the addition” of Cardano, Basic Attention Token, Stellar Lumens, Zcash and 0x to their traing platform.
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
While this news is bringing serious FOMO to traders who have stayed away from all but the top 5 coins, the real winners here are the employees of Coinbase who will no doubt be accused by the community of benefiting from insider knowledge and the spread of hype that’s seen a 10 to 25% increase in coin prices for each of those projects:
Before you accuse me of making baseless claims, I’d like to remind you about the Bitcoin Cash fiasco, where lawsuits have been leveled at Coinbase for alleged Insider trading-
Theyre at it again! Bitcoin cash all over again
— Crypto Correct (@Crypto_Correct) July 13, 2018
This was also covered in detail by Coindesk, even though the parent company of Coindesk is part owner of Coinbase.
The true loser tonight, though, is Ripple. Even with a 17 billion dollar marketcap, third highest in net volumes, it’s not being considered to be listed on Coinbase. Either due to it’s centralized nature or due to it’s relationships with banks and traditional financial institutional values, that are diametrically opposed to the decentralization philosophy at the core of cryptocurrency. Whatever the reason, they’re just not on the list of coins that Coinbase plans to add. And it shows in their steadily declining coin price, something that no amount of positive press seems to be able to improve.
Ripple’s exclusion from this list has been so blatant, that it caused all of Crypto twitter to sit up and take notice. Commenters started contributing to the conversation through that most appropriate of all means of communication– Memes.
— TRXASAURUS (@TRXASAURUS) July 13, 2018
Coinbase – 2030 : "Today we are announcing that we’re exploring the addition of the last dead coin of crypto market : Bitconnect.
Please note that we still don't want to list XRP"
— The Crypto Monk ⛩ (@TheCryptoMonk) July 13, 2018
— Josh McGruff (@JoshMcGruff) July 13, 2018
It’s important to keep in mind that this does not imply that Coinbase will definitely be adding these tokens, because they’ve been very careful to use the word ‘exploring’, to avoid accusations of causing FOMO among investors. (Though if the sudden price rises are any indication, that is exactly what they’ve caused).
Only time will really tell if any of this will amount to more than speculation, although my question is this- Which of these tokens do you think will be listed first? Or will it be all of them at once? If listing one token at a time on an exchange can cause a 64% rise (Like Bitcoin Cash), what will it be like when 5 new tokens hit the exchange?