• 29. September 2023

Coinbase explores adding 18 new digital assets to its platform

The largest crypto-currency exchange in the United States is considering adding a variety of new digital assets.

According to a June 10 Coinbase blog post, the exchange is exploring the addition of the following assets: Aave (LEND), Aragon (ANT), Arweave (AR), Bancor (BNT), Compound Coin (COMP), DigiByte (DGB), Horizen (ZEN), Livepeer (LPT), NuCypher (NKMS), Numeraire (NMR), KEEP Network, Origin Protocol (OGN), Ren (REN), Render Network (RNDR), Siacoin (SC), SKALE Network, Synthetix (SNX), and Bitcoin Trader VeChain (VET). However, Coinbase is not considering adding Siafunds.

Coinbase did not give an exact timeline for the listing of these assets, the publication said the process required „a major technical and compliance review“ in addition to some regulatory approval.

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„We will add new assets on a jurisdiction by jurisdiction basis, subject to applicable reviews and approvals,“ the announcement said, „our clients can expect Coinbase to make similar announcements in the future as we continue to explore the addition of numerous assets across the platform.

Coinbase Custody, the international institutional crypto-custody arm of the exchange, appears to have accidentally announced that the stablecoin Tether (USDT), would be part of the token expansion in a Tweet today, however, the announcement referring to the USDT in Coinbase has since been removed.

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Excellent for the price of tokens
When Coinbase adds support for new digital assets, it is often accompanied by bullish behavior, Cointelegraph reported that when the exchange announced that it would add Stellar Lumen (XLM) in March 2019, the token gained about 5.66% on the day, much of the recent increase in the price of MakerDAO (MKR) was attributed to its incorporation into Coinbase.

Shortly after Coinbase’s announcement was made public, the price of VET shot up from $0.0081 to $0.0091, an increase of 12.34%, DGB also increased its price at the end of the day, rising above $0.02 for the first time in weeks.

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Requests to „Eliminate Coinbase“ continue
Unfortunately, some members of the crypto community are still upset with Coinbase and the #DeleteCoinbase hashtag is becoming a trend on Twitter.

„They made a mistake with the last collapse, it may already be too late,“ said itscbj, a Reddit user.

Recent collapses during Bitcoin’s (BTC) price hikes, coupled with news that Coinbase may sell its blockchain intelligence arm to the Internal Revenue Service (IRS) or the Drug Enforcement Agency (DEA), have led to massive withdrawals from its platform.