Coinbase is one the most popular crypto currency platform and provides crypto currency trading serives for Bitcoin and Ethereum’s Ether. Now, its expanding and adding five new digital currencies in its system to suite of offerings as Bitcoin is facing low dip in the market.
According to coinbase, they are considering following crypto quintet:
- Cardano Ticker: ADA—The asset is often likened to Ethereum, which offers smart-contract capabilities
- Basic Attention Token Ticker: BAT—The coin has its roots in allowing advertisers to pay for user attention.
- Stellar’s lumens Ticker: XLM—Stellar’s network has been prominent within the fintech circles
- Zcash Ticker: ZEC—Zcash is a popular privacy coin
- 0x Ticker: ZRX—The coin is an open protocol that are used for smart contracts and operate on the Ethereum blockchain, or distributed ledger
Coinbase spokesman Keely Hopkins says,
The trading platform is exploring rather than outright adding the aforementioned coins is “part of an effort to be as open and transparent as possible, and is consistent with our process for adding new assets.
In late December last year, Coinbase added Bitcoin cash and the price of security tough the high edge just before the addition. The sudden jump in the price spark allegations of inside trading on one of the largest crypto currency exchanges. Since then, Coinbase is cautious about being transparent on its policy of adding new tokens and coins.
On Friday, the company announced on its news blog that it can’t guarantee any of the assets mentioned will find a permanent home on its exchange. Still the coins are experiencing a slight surge in the market with ardano up nearly 12% at 14 cents, Zcash was trading nearly 16% higher at $178, Stellar’s coins were up 11% at about 20 cents a lumen. The 0x coin was surging by 26% at 96 cents, while BAT’s coin was up 21% to 32 cents. Coinbase’s moves come as the bitcoin BTCUSD, +0.35% the No. 1 digital asset. It has been shifting key price from $6,100 to $6,200 for the past few weeks, since it hits its highest $20,000 in late December last year.
Bitcoin price has been decreased around 70% since its peak price level last year and since then its trading above $9,800 in May. A single Bitcoin traded at $6,211.45 late Friday in New York, down 0.6%. Meanwhile, futures for bitcoin traded on Cboe Global Markets Inc. CBOE, -0.22% for July XBTN8, +0.08% settled at $6,187.50, slightly higher than its $6,170 close in the prior day. For the week, it shed 6% based on the most-active Cboe contract and is down 55% year to date. Comex traded bitcoin for July delivery BTCN8, +0.32% ended the session at $6,165, edging up from $6,160 on Thursday, with a weekly decline of 5.9%, and a year-to-date slump of 57%. In the broader virtual-currency complex, Ether tokens ETHUSD, +2.09% were up 1.4% to $434 ion Friday, Bitcoin Cash was trading 2.7% higher at $698, and Ripple’s XRP coin XRPUSD, +1.14% was up 0.9% at 44 cents.