Coinbase, Stellar (XLM), ZCash (ZEC) –As previously reported by EWN, the cryptocurrency market and ZCash received a jolt of interest compared to the most recent listing by Coinbase based in the United States. From announcing in July their interest in pursuing five new currencies, Coinbase has influenced both investors and the cryptocurrency market with their ability to influence coin prices. Of the five originally listed (0x, Basic Attention Token, ZCash, Cardano and Stellar), only the last two have yet to come to the exchange: a rather surprising development given that both represent the two largest by selection market capitalization.
Stellar's XLM, in particular, was the betting favorite for adding to the exchange given both the high profile presence in the industry, having been linked to blockchain development with IBM and rumors of potential integration on the platform Facebook of the social media giant, in addition to holding the fourth highest position on the total market capitalization for crypto-just one point below the strength of Ethereum.
While investors are awaiting news on the direction that Coinbase will take in relation to the XLM currency, which would offer a much-needed diversity to their limited selection of currency bids, it is possible that the exchange is waiting for the market outlook to move more favorable conditions. Given the bearish market in progress in 2018, investor motivation is reaching a low level to close the year, as investors are tired of seeing the red refrain from entering the markets. In particular, the last two weeks of precipitous price collapse make it unlikely that even a major addition to the exchange, such as the one that could provide the XLM, will provide the kind of trade movement that the exchange had anticipated when announced for the first time in July. While cryptocurrency continues to see sufficient transaction volumes in trades, making it profitably profitable as Binance is able to achieve record profits, the investor's excitement on a high-profile addition like Stellar is undoubtedly dampened by the fall in November prices.
However, not everyone in the Crypto space was pleased with the focus on growth driven by the exchange. In July, the founder of Ethereum Vitalik Buterin blew up most of the cryptocurrency exchanges, saying, "I certainly hope that centralized exchanges will burn to hell." The XRP investors, in particular, have lost the head of the exchange associations with the currency. Since January, the price of XRP has tracked several boom-and-bust rounds as a result of rumors associating the currency with a possible listing on Coinbase, leading to general exhaustion and frustration of investors.
There was some development on the stellar blockchain in relation to a possible list that is causing a stir. Whale Alert, a Twitter wallet monitoring service, has posted several updates on huge quantities of XLMs moved on 29 November.
🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨, 000, 000, 000 🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 #XLM (16.528.515.050 USD) transferred from an unknown Portfolio to an unknown Portfolio
– Whale Alert (@whale_alert) November 30, 2018
Some have indicated that this is a possible prelude to a large list like Coinbase, with the service that experiences the movement of large quantities of XLM. However, others have pointed to the fact that this is probably a deceptive transaction amount, with transaction reminders saying "it's NOT REAL".
– The Brave New World (@TheBraveNewWorl) November 30, 2018