Coinbase announced yesterday (13th) that its technical team is researching the potential addition of five cryptocurrencies—ADA, BAT, XLM, ZEC, and ZRX—to its trading services. However, no definitive timeline for listing these assets has been disclosed.
The exchange emphasized that beyond resolving technical challenges, it must collaborate with global banks and regulators to ensure compliance across jurisdictions.
Technical Considerations and Transparency
In its announcement, Coinbase noted that the five proposed assets differ technically from ETC (currently under review), necessitating additional exploratory work:
"We cannot guarantee all five assets will be listed. Some may only support buy/sell functions, excluding wallet transfers. Others might be limited to web-based interactions (e.g., Zcash address deposits/withdrawals only)."
This follows a March lawsuit accusing Coinbase of insider trading related to Bitcoin Cash (BCH) listings in late 2017. Plaintiffs alleged employees received advance notice, disadvantaging retail traders during the launch.
To bolster transparency, Coinbase released an updated listing framework in March:
- Approval decisions are announced via blog/Twitter.
- Notifications are shared simultaneously with employees and the public.
Market Reaction: Investor Enthusiasm vs. Community Skepticism
Per CoinMarketCap, all five cryptocurrencies saw price surges post-announcement, with BAT spiking 20%—leading gains among small-cap assets.
However, community feedback was mixed:
- Critics dismissed the move as "price hype" without actionable outcomes.
- Users questioned Coinbase’s "testing" rationale, given these assets already trade on dozens of exchanges.
Hours later, Kraken tweeted sarcastically about "reviewing 1,600+ coins," further fueling skepticism. Most interpreted this as a jab at Coinbase’s vague announcement.
FAQs
1. When will Coinbase list these cryptocurrencies?
No timeline exists. The exchange must first resolve technical and regulatory hurdles.
2. Why is BAT’s price surging disproportionately?
BAT’s utility in digital advertising and strong community backing may amplify investor interest.
3. Will Coinbase face legal risks for pre-listing announcements?
Its updated framework aims to mitigate insider trading accusations by synchronizing internal/public disclosures.
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Disclaimer: This article is not investment advice. Conduct independent research before making financial decisions.
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