Cryptocurrencies usually see a price increase after being added to an exchange, but with Coinbase the increase could be meteoric – even when nothing is actually being added.
The exchange announced Friday it was looking into potentially adding cardano’s ADA token, basic attention token, leading, zcash and 0x to its platform, and each one of the tokens instantly saw double-digit percent price spikes. The increases are much more fascinating considering Coinbase noted that it”can not ensure they’ll be listed for trading”
Notably, the exchange also promised that”we’re making this statement at Coinbase and to the general public at the same time to remain transparent with our customers about support for future assets,” maybe in reference to past allegations of insider trading.
While majority of the recorded tokens have been falling victim to the bearish sentiment of the cryptocurrency market over the last couple of days, BAT has been looking especially bullish.
Peak +13.94 percentage from daily low
Basic Attention Token (BAT)
Peak +27.75 percentage from daily low
Peak +26.67 percentage from daily low
Peak +12.39 percentage from daily low
Peak +33.58 percentage from daily low
The exchange added a disclaimer that taxpayers in some specific area may or might not be able to trade a specific token, stating that”regional support depends on a case-by-case analysis that looks to legal, compliance, along with other factors which are linked to this jurisdiction.
In several cases, you need to expect particular assets to be available in other jurisdictions before arriving to the U.S.”
The exchange does plan to look at different factors, including the legal and compliance aspects of offering a specific token for trading, before launching support, in accord with the specific article.
“We only plan to launch asset that are compliant with local law,” it noted.
Coinbase application picture via PixieMe / Shutterstock
Disclosure: The author holds BTC, AST, REQ, OMG, FUEL, first and AMP throughout the time of writing.
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