Everybody wonders what new cryptocurrencies will be chosen by Coinbase to be listed next. Could it be Cardano’s Ada, Stellar Lumens’ XLM and Zcash’s ZEC? BAT is already listed now.
The Basic Attention Token is about to go live at Coinbase, deposits in that currency are being accepted since last November 3rd. It is not an autonomous token, it runs on Ethereum’s technology, but that’s fine by the exchange. The company’s announcement said,
“Once sufficient liquidity is established, trading on the BAT/USDC order book will start. […] BAT trading will be accessible for users in most jurisdictions, but will not initially be available for residents of the state of New York.”
You may be wondering how is it that BAT fits into this story. Well, last July 13th, Coinbase announced it was exploring the option to add the BAT to its platform as well as Cardano, Stellar Lumens, Zcash and 0x.
So Bat is live now. What about the other ones? We (and many other crypto observers) expect some other cryptocurrencies to be supported by Coinbase in the near future.
It’s no surprise that the BAT market reacted favorably following Coinbase’s announcement. BAT grew by about 10% after November 3rd and gained something like $55 million in market capitalization just because of that tweet.
Getting listed at Coinbase is nothing less than any blockchain project’s wet dream. It’s a huge achievement because it adds a lot of value and trade volume to any digital asset that can manage it.
Coinbase already supports 0x and BAT. So what will happen to Cardano, Stellar, and Zcash? Let’s see.
Stellar Lumens (XLM)
The Stellar Lumens project has had some really good news recently.
Only last September they created the world’s first zero-fee StellarX exchange. This exchange supports several fiat currencies, it charges no fees, it offers total end-to-end transparency, and IBM supports it, at least implicitly.
Then, there’s Starlight. It’s Stellar’s instant payment system. Stellar’s competitive advantage is that it locks transactions funds right away in a secure channel in which only final balances are made public.
Starlight could seem similar to Bitcoin’s Lighting Network, but Stellar’s team says their system is more advanced s it provides support to secure payment channels.
As we write this Stellar’s XLM is trading in the green at $0.258, ranked sixth with a market capitalization worth $4,903,853,892.
ADA is already the eighth most significant digital asset by market capitalization. It’s not been doing that well lately and Charles Hoskinson, the project’s co-founder, was not afraid to manifest his displeasure to the community in the form of an open letter.
The letter explained how, in Mr. Hoskinson’s view, Cardano community is in needs of proper direction and that is hampering the ecosystem as a whole. The lack of a strategic and long-vision (and transparency) regarding financial statements are dragging the Cardano project backward. Charles also believes that the company needs better internal governance too.
There is tension within Cardano, for sure. But even so, the coin is holding its position among the world’s top ten for quite some time now. Also, the community is still growing, it believes and it’s driving the token up.
It remains at 8th place the by market cap, trading in the red at $0.075 as we write this article.
ZCash recently deployed “Sapling,” an upgrade that brought many new features to the project. It increased efficiency, privacy and security for users. It happened as ZCash turned two years old. In the development team’s words: “Sapling introduces new shielded addresses with significantly improved performance: a time reduction of 90% for constructing transactions, and a memory reduction of over 97%.”
ZEC is trading in green numbers by a fraction at $134.01, but despite its high price, it’s at 19th number in the world by market capitalization.
We can’t know for sure which new cryptocurrencies will be supported by Coinbase, but these are three extremely promising prospects. Keep an eye on them and on Coinbase’s announcements which, of course, we will report for you in due time.
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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.
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XNO Token of Xeno NFT Hub listed on Bithumb Korea Exchange
Hong Kong, Hong Kong, 25th January, 2021, // ChainWire //
Xeno Holdings Limited (xno.live ), a blockchain solutions company based in Hong Kong, has announced the listing of its ecosystem utility token XNO on the ‘Bithumb Korea’ cryptocurrency exchange on January 21st 2021.
Xeno NFT Hub (market.xno.live ), developed by Xeno Holdings, enables easy minting of digital items into NFTs while also providing a marketplace where anyone can securely trade NFTs.
The Xeno NFT Hub project team includes former members of the technology project Yosemite X based in San Francisco and professionals such as Gabby Dizon who is a games industry expert and NFT space influencer based in Southeast Asia.
NFT(Non-Fungible Token) technology has recently gained huge focus in the blockchain arena and beyond, making waves in the online gaming sector, the art world, and the digital copyrights industry in recent years. The strongest feature of NFTs is that “NFTs are unique digital assets that cannot be replaced or forged”. Unlike fungible tokens such as Bitcoin or Ether, NFTs are not interchangeable for other tokens of the same type but instead each NFT has a unique value and specific information that cannot be replaced. This fact makes NFTs the perfect solution to record and prove ownership of digital and real-world items like works of art, game items, limited-edition collectibles, and more.
NFTs are already being actively traded in markets globally. For…
Should Crypto Projects Devote Resources to Community Growth and Marketing?
2020 has been an incredible year for crypto as investors have generated windfall profits and crypto projects have seen their businesses gain the spotlight they’ve been looking for. While Bitcoin has received most of the attention after major institutional investors announced they were accumulating the increasingly scarce asset, many altcoins have also seen their fair share of glory. When looking at all the big winners of the past year, the first project that probably comes to mind is Chainlink, having appreciated by more than 550% YTD and now valued at over $4.5 billion. But, the actual biggest winner of the year is HEX with a YTD return of over 5,000%.
I mention both of the above projects as they have each taken slightly different paths to achieve greatness. Chainlink has devoted resources toward building a fundamentally sound business with many strategic partnerships while HEX has spent vast sums of money on marketing and promotion. Both approaches are valid, but one thing is certain, it is absolutely imperative for crypto projects to let the crypto community know what makes them special. Of course, one of the reasons that makes crypto so valuable is the powerful blockchain technology that most projects are utilizing.
Cryptocurrency vs. Blockchain Technology
It’s important to make a distinction between blockchain technology and cryptocurrency. Although they are often used interchangeably, they are different. Blockchain technology and crypto were both created after the 2008 financial crisis, but cryptocurrency…
XENO starts VIP NFT trading service and collaborates with contemporary artist Hiro Yamagata
Hong Kong, Hong Kong, 24th December, 2020, // ChainWire //
The XENO NFT Hub (https://xno.live) will provide a crypto-powered digital items and collectables trading platform allowing users to create, buy, and sell NFTs. Additionally it will support auction based listings, governance and voting mechanisms, trade history tracking, user rating and other advanced features.
As a first step towards its fully comprehensive service, XENO NFT Hub launched a recent VIP service to select users and early adopters in December 2020 with plans for a full Public Beta to open in June 2021.
“NFTs are extremely flexible in their usage, from digital event tickets to artwork, and while NFTs have a very wide spectrum of uses and categories XENO will initially focus its partnership efforts and its own item curation on three primary areas: gaming, sports & entertainment, and collectibles.”, said XENO NFT Hub president Anthony Di Franco.
He also added “This does not mean we will prohibit other types of NFTs from our ecosystem However, it simply means that XENO’s efforts as a company will be targeted into these verticals initially as a cohesive business approach.”
Development and Procurement Lead, Gabby Dizon explained, “Despite our initial focus, we found ourselves with a unique opportunity to host some of the works of Mr. Hiro Yamagata. We are collaborating with Japanese artist Hiro Yamagata to enshrine some of his artwork into NFTs.”
Mr. Yamagata has been…