Coinbase Makes No Promises But Crypto Coins Continue to Float

Last night the Coinbase team tweeted out their intentions to consider adding five new coins to their exchange platform.

Within two hours of the announcement all of the coins shot to double-digit growth for the day, as you can read about here.

Ox (ZRX) recorded over 33% growth for the day, while Stellar (XLM), Cardano (ADA), Zcash (ZEC) and Basic Attention Token (BAT) all marked up gains in the region of 12% to 25%.

No Promises

But when the Coinbase twitter team began to see the effects of their tweet, they sent out a quiet reminder that while they’re giving these coins some consideration right now, their addition to the exchange is still some way off, if it happens at all.

The tweet read:

“Please note that we are not guaranteeing the listing of any of these assets. We may list them with partial support, or only in specific jurisdictions. In particular, some assets may become available in other countries before the US.”

The team also reminded their followers that not all coins are as easy to add to the exchange as Ethereum Classic, with each coin having different technical and legal specifications. Coinbase tweeted:

“Unlike Ethereum Classic, which is technically similar to Ethereum, these assets require additional work that necessitates contact with many external parties. To ensure that this news comes to you directly from us, we are publicly announcing our intentions.”

But even today as the market begins to dip again, all of the coins tagged by Coinbase are still in the green, and are among the best performers in the top-100 over 24 hours.

Sustained Growth

The announcement was a powerful one, and triggered the influx of hundreds of millions of dollars worth of trades. Suprisingly, it still seems to be going, although to a less accelerated degree.

Right now Stellar is at a price of $0.198 and has recorded 5.6% growth over the last 24 hours. Yesterday, the announcement took XLM to a near weekly high of $0.201, which could still be attainable for the next day.

Cardano is down in value since yesterday’s sudden peak, but is still up 5% over the full 24 hours. At the time of the Coinbase announcement Cardano spiked 12% on its way to a price of $0.141. Today that price sits at $0.135, but Cardano is still in the green since trading opened this time yesterday.

Zcash jumped 17.5% yesterday, going from $157 to $185 within just twenty minutes. Today, the value of ZEC coins has fallen back down to $173.21 – still an 8% improvement on yesterday’s start.

Ox is still up an incredible 16% for the day, sitting at a price of $0.97. That’s just 3% less than yesterday’s peak of $1.00. Ox is the second best performer in the top-100

Basic Attention Token is today’s best performer, having lost almost none of yesterday’s gains. The tweet sent BAT tokens to a price of $0.331, while the current price is £0.330.

Behold the power of the announcement in all its glory.

Author:
Greg Thomson is a freelance writer who contributes to leading cryptocurrency and blockchain publications like CCN, Hacked, and others.