In a blog post that was rather unexpected considering the upcoming restrictions on crypto asset trading in the USA, Coinbase announced that they are exploring the possibility to list eight new coins.
The exchange clarified that listing would happen on a jurisdiction-by-jurisdiction basis which explains the optimistic approach to coin additions. They have also specified the exact assets that they are looking into.
Among them are Binance Launchpad superstars Matic and Harmony – both of which are blockchain networks focused on quick transaction finality, high throughput and the ability to scale in a way that does not hinder decentralisation.
Hybrid Proof-of-Work / Proof-of-Stake system Decred is another addition on the list that has reasonable popularity and community support. Similar is the case with Waves – another quick high-throughput blockchain that utilises Proof of Stake and dApp support.
Coinbase are boldly stating that the list would continue to grow, and the once Bitcoin-only company is looking to give its users access to almost all relevant cryptocurrencies on the market. As per the blog post:
“Over time we expect our customers around the world will have access through Coinbase to at least 90% of the aggregate market cap of all digital assets in circulation.”
Most of the coins did not see any significant price movement at the time of the announcement. However, history shows that once listed on Coinbase, assets typically see their price skyrocket. With no listing date announced, however, the market perhaps sees the opportunity cost of holding a coin for too long as a liability rather than a lucrative opportunity.