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Why Ethereum-Based Tokens Get Listed on Coinbase Faster?

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Ehereum
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Coinbase, one of the largest cryptocurrency exchanges in the world, has been known for being quite picky when it comes to tokens it lists on its platform. As per user requests, this exchange decided to expand its list of tokens and has announced that it will review multiple coins on several occasions throughout 2018.

Recently, Coinbase finally started expanding the list with a new addition — 0x (ZRX). However, multiple other coins still have a chance of being chosen for getting Coinbase’s support. These include Basic Attention Token (BAT), Cardano (ADA), ZCash (ZEC), as well as Stellar Lumens (XLM).

One consequence of a coin getting listed on Coinbase includes something called the Coinbase Effect. This is a term used for coins that usually experience a significant price surge following the announcement that Coinbase will support them. It happened when BCH and ETC joined the exchange, as well as after 0x was chosen.

Ethereum-based coins have the coding advantage?

A lot of investors are still wondering what was it that allowed ZRX to gain support from Coinbase before others. Coinbase even got accused of favoritism due to its choice.

The simple reason is the fact that three out of five 0x project’s advisers have a link to the exchange. While some may consider this a matter worthy of investigation, cryptocurrency industry remains highly unregulated. In short, Coinbase did not break any rules by picking ZRX due to this reason.

While this reason is probably the most influential factor that influenced Coinbase’s decision, there are other, technical reasons why the exchange decided to go for ZRX. For example, ZRX is, as mentioned, an Ethereum-based coin. That makes it easier to integrate onto the platform that already supports not only Ethereum but Ethereum Classic as well.

With this being the case, many have speculated that BAT might be the next coin to gain support since it is also Ethereum-based. This is, of course, still only a speculation, and it will likely just happen if Coinbase keeps choosing coins based on technical point of view.

Considering that BAT experienced a price surge soon after ZRX was selected to join Coinbase, it might seem that a lot of investors managed to connect these same dots and get to the same conclusion.

Can ZCash be the next one?

Many speculate that ZCash might be the next one in line. Even though it is a privacy coin — a type of cryptocurrency that focuses on privacy and security, which is why it is often being frowned upon — ZCash has made a big breakthrough recently.

The coin has just surged by 7.5% in the last 24 hours, and in the process, it overtook the 20th spot on the list of largest cryptos, effectively replacing Dogecoin. Many believe that ZCash experienced this spike due to its future Sapling network upgrade. This is an upgrade that will bring numerous improvements to ZEC’s shielded transactions.

As a result, many expect ZCash to become more dominant among privacy coins, as well as to boost its adoption. With Sapling upgrade, transactions are to become faster but still protected. It will also bring features such as improved keys, and decoupled spend authority.

As mentioned, a recent price surge has brought ZEC to the 19th rank, which is where it currently resides. Unfortunately, the coin is currently trading in the red, with losses of almost 2%. Its current price is at $123 per coin at the time of writing.

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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.

Image courtesy of Geralt/Pixabay

Altcoins

KaratGold Proves Its Business Model By Providing Official Documents

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There has been a lot of renewed enthusiasm in the cryptocurrency market thanks mainly to Bitcoin’s strong move about 10,000.  Although Bitcoin continues to show its dominance, the altcoin market has yet to benefit from that rally.  A few of the largest altcoins remain popular but the rest of the market continues to lag behind.  In 2018, there was a lot of talk regarding a possible altcoin apocalypse where only the strong would survive.  That prediction appears to be playing out as expected.  Going forward, only the best projects that have a real world need will survive.  Crypto traders will have to spend a lot of their time doing proper research in order to find the best opportunities, just like in all financial markets.  One promising project that appears to have the makings of a future winner is KaratGold Coin.

KaratGold Background

KaratGold Coin is a cryptocurrency developed by the reputable German company Karatbars International, which maintains a leading position in the market of small gold items and investments. The project is part of a larger ecosystem, which involves several blockchain solutions that can be used for transactions, communication, investing and other tasks. During the past few weeks, however, the KaratGold ecosystem has been a target of unsavory scam allegations.  

Karatbars International and GSB Gold Standard Banking Corporation…

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Altcoins

ICTE May Bring About Sweeping Changes for Cryptocurrency Exchanges

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Cryptocurrency has taken the world by storm during the last few years. An entirely new financial market was created almost overnight which has captured the imagination of all its participants. Cryptocurrency is even starting to attract institutional money from investment banks, hedge funds, and other proprietary trading firms. Despite the rapid growth, traders remain extremely frustrated by having to deal with the fragmented nature of centralized crypto exchanges.

A Change is Needed

When cryptocurrency first began, there weren’t many participants and the trading volume was relatively insignificant. But, over time, that has radically changed. Some tokens now have a capitalization in the billions and are being traded 24-7 by institutions all over the world. Despite the volume, significant problems exist with the current way that exchanges work. Some of those problems include the following:

  • Constant fear of hackers
  • Exchange manipulation
  • Fragmented liquidity
  • Risk of identity theft

One of the biggest issues regarding centralized exchanges is the risk of being hacked. These hack stories seem to always be circulating around the internet. While experienced traders may have the tools to avoid becoming a victim, potential new traders have zero interest in dealing with this. And it’s not just the small exchanges that are at risk. Even large exchanges, such as Mt. Gox and Binance, are subject to being hacked.

Another huge risk is having to deal with…

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Altcoins

SonicX and Dash Could Challenge Facebook’s Libra for Global Payments Market Share

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SonicX
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When Satoshi Nakamoto unveiled Bitcoin to the world, the dream was always for Bitcoin to serve as a new universal currency.  It would be free from the bureaucracy of governments.  And free from the tyranny of the old-world financial cartels.  Although the dream hasn’t yet materialized, it comes closer and closer with each passing day.

One of the biggest roadblocks for Bitcoin has been scalability.  At a speed of approximately 7 transactions per second, Bitcoin lags behind other cryptocurrencies like Ripple and global payment processors like Visa.  Many expect the lightning network to have a positive impact on Bitcoin’s TPS but until that comes to fruition, mass adoption will likely need another significant development.

Libra Currency Announcement

One development that could help pave the way toward mass adoption is the launch of the Libra currency.  Libra is expected to go live during the first half of 2020 according to Facebook’s June announcement.  According to Facebook, Libra will make sending money online cheaper and faster.  It will also have a hand in improving access to financial services, especially for the unbanked.  Given Facebook’s global reach, including many third world countries, providing financial access to the unbanked could provide a huge spark to global economies.  Additionally, it could provide the growth spark that cryptocurrency needs.

Facebook’s most popular messenger, WhatsApp, has approximately 1.5 billion monthly users.  This application is…

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