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Why Is Coinbase Stalling With XRP?

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Coinbase

For a cryptocurrency project, getting their coin to Coinbase is one of their biggest goals. However, the popular exchange has become infamous over the years for only accepting a handful of top-ranking coins, while other ones were deemed unsafe for listing for various reasons. In the first half of 2018, however, Coinbase decided to distance itself from this old way of looking at things, and it has even announced that it will look into numerous altcoins, in order to locate and list the best among them.

Since then, the exchange has kept its word, and while it did not add dozens of new coins, they still did open up to a few projects, such as 0x and even Zcash.

However, for all this time, there was no mention of XRP, a cryptocurrency formerly known as Ripple, which is currently the second largest coin by market cap. Despite high demand, constant requests, and alike — Coinbase did not even consider adding XRP.

That is, until several days ago, when numerous reports of Coinbase considering another group of altcoins emerged. While the XRP community was very excited to see XRP listed as a candidate for a potential listing, many believe that it is still not going to happen.

Why Coinbase doesn’t want to add XRP?

As mentioned, the XRP community has been asking for the addition of XRP for months. Coinbase, however, remained silent. Their reasons for not adding XRP were never a secret, as the exchange was always offering only the top quality coins. Coins that are not surrounded by controversy and various allegations.

XRP, on the other hand, has been gaining a lot of negative attention due to allegations of it being a security. Furthermore, there were also rumors that XRP was issued via an illegal securities offering, which did not help its image. Of course, XRP’s parent company, Ripple, has been denying these allegations every time.

They were also accused of manipulating the coin and keeping it centralized. As a result, the company made an effort to prove that XRP is decentralized, as a cryptocurrency should be. All of this negative attention, however, has made XRP an unwanted guest at Coinbase.

Will Coinbase add XRP at all?

For now, it is hard to say. While it seems that the situation regarding XRP issues has calmed down in the last several months, many of these issues still remain unresolved. It would be unlike Coinbase to add XRP even with these allegations still in the air, despite the fact that it was listed as a potential candidate.

Some speculate that Coinbase has only listed XRP as a potential coin so that it would calm down the raging XRP community. However, as the exchange always points out — just because a coin is listed as a candidate for adoption, it doesn’t mean that it will actually get adopted. Coinbase has announced dozens of altcoins as candidates before, but it only actually added a couple of altcoins.

Right now, XRP is just one of 31 coins that Coinbase is considering, which means that its chances are slim, at best. Many consider this to be stalling until uncertainties surrounding XRP can be resolved, While there is nothing that is ever really certain in the world of crypto, and there is a possibility that Coinbase might actually add XRP, many believe it to be unlikely at this point.

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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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Altcoins

XNO Token of Xeno NFT Hub listed on Bithumb Korea Exchange

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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…

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Altcoins

Should Crypto Projects Devote Resources to Community Growth and Marketing?

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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…

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Altcoins

XENO starts VIP NFT trading service and collaborates with contemporary artist Hiro Yamagata

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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…

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