Coinbase lists the BAT after months of speculation
As reported by Ethereum World News on Friday afternoon, after months of unbridled speculation and hopes, Coinbase, based in San Francisco, announced the intention to list the Basic Attention Token (BAT), the digital heritage of the Brave Browser, on his professional basis. centric platform, the same named Coinbase Pro.
BAT is about to be launched on Coinbase Pro! Today, starting at 13:00 PT, customers can transfer BAT to their Coinbase Pro account. Merchants can deposit BATs, but can not place or fill orders. Order books will remain in transfer only mode for at least 12 hours. https://t.co/31wbi09uyx pic.twitter.com/2YC7xtOjuI
– Coinbase Pro (@CoinbasePro) 2 November 2018
The announcement, which came via a tweet and a blog post, revealed that starting Friday, Coinbase Pro would allow its customers to deposit BAT tokens, based on the Ethereum network. Once "sufficient liquidity is established", the US crypto startup intends to open trading for its BAT / USD (USDC) order portfolio.
Interestingly, users "in most jurisdictions" will have access to the popular Ethereum token, with the exception of those residing in the state of New York, where the regulatory environment surrounding financial institutions is much more stringent. Like the previous Coinbase Pro listing events surrounding Ethereum Classic (ETC) and 0x (ZRX), BAT trading will be implemented in a four-step / stage process – transfer only, post only, limit and full only.
It is important to note that for now, BAT will not be available through Coinbase Consumer, better known as Coinbase.com, or via iOS and Android startup applications, but the crypt-company added that it will make a separate announcement when the time comes.
Because of the eponymous "Coinbase Effect", the BAT is currently increased by 13.5% at the time of writing and is valued at $ 0.291 per piece.
Stellar's XLM, ADA, ZEC still on the block of Coinbase blocks
Months ago, as you may remember, Coinbase, a cryptocentric upstart now valued at $ 8 billion, unexpectedly revealed that it was evaluating the listing of five popular altcoins: Stellar Lumens (XLM), 0x (ZRX), Cardano (ADA), ZCash (ZEC) and Basic Attention Token (BAT).
In the original announcement, the rapidly expanding company wrote:
We are exploring the addition of many new resources and will work with local banks and regulators to add them to as many jurisdictions as possible.
While the launch went silent on the radio for several months, at the beginning of September rumors arose that Coinbase was trying to add 0x (ZRX). In the end, those voices became reality, with the popular cryptocurrency platform that revealed support for ZRX in mid-September, which marked the first time that Coinbase had listed a token, another based on Ethereum. Now, as mentioned above, Coinbase had added its second Ethereum token, listing BAT only two weeks after the premiere of ZRX.
Considering the increase in the two-digit prices that ZRX and BAT have subsequently seen, many have begun to consider which Coinbase crypto / token will be added later. At present, ADA, XLM and ZEC are the only cryptographic assets to lose Coinbase's account, so to speak.
Recently, the ZCash Network has undergone one of its largest protocol updates to date, launching the so-called Sapling protocol that changes the way the privacy-focused blockchain handles zero-knowledge-free transactions. Because of this update, many exchanges blocked ZEC's filing and withdrawal capabilities for the time being, indicating that Sapling could have drastically changed the way the platforms accept, process and send ZEC. Not only has the technical logistics changed for trade, but the regulatory environment surrounding ZEC, which is focused on private transactions, is still in the air. These two factors could indicate that Coinbase will not list the resource in the near future.
While Cardan has proven to be a leading network in the realm of today's cryptocurrencies, some are skeptical about the short-term success of ADA. Due to the fact that Cardano Network is at the beginning, despite the heavy team that supported the project, there were many who are not ready to see ADA on Coinbase … or at least in the next few months anyway.
Not surprisingly, many Star Network experts and their native heritage, Stellar Lumens (XLM), have been waiting for Coinbase validation for years. The Stellar sponsored by Jed McCaleb, which unlike Cardano, has a real up-and-running mainstream, has been seen as the main contender for the next list of Coinbase due to the adoption and use of the popular network.
It is interesting to note that, of the three cryptocurrencies mentioned above, Lumens has increased considerably after the announcement of BAT, potentially alluding to the market sentiment that Coinbase will list the next XLM.
Title Image Courtesy of Billy Huynh on Unsplash