Coinbase has made it known that it will soon add 18 new digital assets including DigiByte, Synthetix and VeChain
Coinbase is looking for how to support some new digital assets. It should be recalled that Coinbase is the biggest crypto exchange in the US.
On June 10, Coinbase created a blog post revealing the 18 assets it wants to add. They include: Numeraire (NMR), KEEP Network, Origin Protocol (OGN), Aave (LEND), Aragon (ANT), Arweave (AR), Bancor (BNT), Ren (REN), Render Network (RNDR), Siacoin (SC), SKALE Network, Compound Coin (COMP), DigiByte (DGB), Horizen (ZEN), Livepeer (LPT), Synthetix (SNX), VeChain (VET) and NuCypher (NKMS). Unfortunately, it is not in Coinbase’s plan to include Siafunds (SF) at this time.
Coinbase is not in a hurry to do the listing. Apart from the time it will take for these assets to be approved, Coinbase wants to be patient so that there won’t be any challenges in the future.
Coinbase, in its blog post stated:
“We will add new assets on a jurisdiction-by-jurisdiction basis, subject to applicable review and authorizations.” It further stated: “Our customers can expect Coinbase to make future, similar announcements as we continue to explore the addition of numerous assets across the platform.”
There was a bit of confusion earlier today when Coinbase Custody stated that Tether (USDT) was going to be expanded but this did not last long as it was deleted almost immediately.
Token prices should increase
It has been observed that assets gain more price value when they are added to Coinbase. This was noticed when Stellar Lumen (XLM) was added in March last year. XLM gained about 5.66% on the day Coinbase announced its support for it. MakerDAO has also increased in price by 100% since Coinbase showed support for it.
Not long after people got to know about Coinbase’s plan for VET, its price rose from $0.0081 to $0.0091, marking a gain of 12.34%. DigiByte (DGB), also appreciated for the first time after several days as its price crossed $0.02.
People still angry with Coinbase
Nevertheless, people are still not happy with Coinbase. They are posting with the hashtag #DeleteCoinbase on Twitter.
On Reddit, user itscbj said Coinbase can no longer be satisfactory after their its outage.
Apart from the last outage, many people have stopped supporting Coinbase since they learned that the exchange was considering giving its blockchain intelligence arm to the Drug Enforcement Agency (DEA) and Internal Revenue Service (IRS).
It has been reported how Coinbase had a deficit of 22,000 BTC ($214 million) on June 7. Alex Mashinsky who is the CEO of Celsius Network made it more glaring when he revealed that his platform received over $70 million within the period Coinbase recorded more withdrawals than deposits.