Home / Crypto Currency / 5 Crypto Assets Are Soaring Big on Possible Coinbase Listings

5 Crypto Assets Are Soaring Big on Possible Coinbase Listings

Cryptocurrencies generally see a price increase after being added to an exchange, but with Coinbase the rise can be meteoric – even when nothing is actually being added.

The exchange announced Friday that it was looking into potentially adding cardano's ADA token, basic attention token, stellar, zcash and 0x to its platform, and each of the tokens immediately saw double-digit percent price spikes. The increases are even more interesting considering Coinbase noted that it "cannot guarantee they will be listed for trading."

Notably, the exchange also claimed that "we are making this announcement internally at Coinbase and to the public at the same time to remain transparent with our customers about support for future assets," possibly in reference to past allegations of insider trading.

While most of the listed tokens have been falling victim to the bearish sentiment of the cryptocurrency market over the past few days, BAT has been looking particularly bullish.

The Charts

Cardano (ADA)

Peak +13.94 percent from daily low

Basic Attention Token (BAT)

Peak +27.75 percent from daily low

Zcash (ZEC)

Peak +26.67 percent from daily low

Stellar (XLM)

Peak +12.39 percent from daily low

0x (ZRX)

Peak +33.58 percent from daily low

The exchange added a disclaimer that residents in certain area may or may not be able to trade a specific token, saying that "regional support will depend on a case-by-case analysis that looks to legal, compliance, and other factors that are relevant to that jurisdiction.

In some cases, you should expect certain assets to be available in other jurisdictions before coming to the U.S."

The exchange does plan to look at various factors, including the legal and compliance aspects of offering a particular token for trading, before launching support, according to the post.

"We only plan to launch asset which are compliant with local law," it noted.

Coinbase app image via PixieMe / Shutterstock

Disclosure: The author holds BTC, AST, REQ, OMG, FUEL, 1st and AMP at the time of writing.

The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.

Read more

Check Also

Bitcoin (BTC) Price Watch: Short-Term and Long-Term Reversal Patterns

Bitcoin Price Key Highlights Bitcoin price has broken past the neckline of a short-term double bottom to signal that an uptrend is underway. Price is also in the middle of forming a longer-term double bottom visible on its 4-hour chart. Bitcoin has yet to test the neckline on this larger reversal formation at the $7,400 level. Bitcoin price has confirmed its short-term double bottom but has yet to complete a larger one to signal a longer-term climb. Technical Indicators Signals The 100 SMA is below the longer-term 200 SMA on the 4-hour time frame to signal that the path of least resistance is to the downside. In other words, there’s a stronger chance for the selloff to resume from here. However, price has climbed past the 200 SMA dynamic inflection point to signal that bullish momentum is picking up. Besides, the moving averages might simply be oscillating to reflect consolidation. RSI is on the move down after recently hitting overbought levels, signaling that sellers are taking control of bitcoin price action while buyers take a break. Similarly stochastic is on the move down to reflect the presence of bearish pressure. With that, bitcoin could still revisit the lows around $6,200. BTCUSD Chart from TradingView Still, sentiment has been mostly positive as traders are drawing hope from the SEC decision to yet again prolong the comment period for bitcoin ETF applications. For many, the regulator’s decision to refrain from a rejection suggests that there’s still a possibility for an approval later on. With that, speculations for a strong rebound before the year comes to a close are still in play. Any indication that an approval for the VanEck/SolidX bitcoin ETF could lead to positioning ahead of any official announcements as traders are keen on not getting left behind any major rallies. On the other hand, hints that a rejection may be in order could lead the slide to resume. The post Bitcoin (BTC) Price Watch: Short-Term and Long-Term Reversal Patterns appeared first on NewsBTC.

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Disclaimer: Trading in bitcoins or other digital currencies carries a high level of risk and can result in the total loss of the invested capital. theonlinetech.org does not provide investment advice, but only reflects its own opinion. Please ensure that if you trade or invest in bitcoins or other digital currencies (for example, investing in cloud mining services) you fully understand the risks involved! Please also note that some external links are affiliate links.