“Coinbase announces it will go live with all viable cryptocurrencies

Will the “Coinbase surge effect” fade as more and more coins come online on Coinbase?

Brian Armstrong, CEO of Nasdaq-listed cryptocurrency exchange Coinbase, said today that the exchange plans to go live with all crypto assets as the law allows.

“A reminder about how Coinbase will go live with its assets: our goal is to list all legal assets,” he tweeted.

"Coinbase announces it will go live with all viable cryptocurrencies

Armstrong added that the exchange does not want any coins to receive special treatment. He said: “Outside of our listing criteria (security/legality), we do not opine on the value of each asset. We are asset agnostic because we believe in free markets and that consumers should have choice in the crypto economy. This is how we will have the most innovation.”

Over time, Armstrong said, the exchange will introduce ways for its users to review or evaluate each asset. In theory, he said, that will provide other consumers with information to make more informed decisions. But in general, people should not take going live on Coinbase as an endorsement of that asset (other than meeting our minimum criteria). Do your own research and use good judgment.

The exchange has certainly picked up the pace when it comes to listing new assets. In 2017, the exchange offered trading services in only four cryptocurrencies: bitcoin, ethereum, litecoin and bitcoin cash. At the time, Coinbase listings had been well-publicized, often pushing up the price of a token when it was announced that it was about to go live on the exchange – the proverbial “Coinbase effect.

Since then, the exchange now has 63 cryptocurrencies live, ranging from stable coins like Tether (USDT) to more obscure coins like Cardano (ADA) and even NKN (NKN), which is ranked 166th on CoinMarketCap.

In January, Coinbase said it was considering the option of possibly adding 44 new cryptocurrencies. It has already added some of them, including ankr (ANKR), curve (CRV) and skale (SKL). Just three days ago, the exchange added more tokens to its list, including barnbridge (BOND), livepeer (LPT) and quant (QNT).

As Coinbase goes live with more cryptocurrencies, the “Coinbase effect” is waning. In the past, when Coinbase announced the launch of a token, the token usually saw a one-day increase of 50% or even 100%, but now this increase has been shrinking.

With thousands of crypto assets still in existence, it still has a long way to go if it really wants to list every available cryptocurrency.

Posted by:CoinYuppie,Reprinted with attribution to:https://coinyuppie.com/coinbase-announces-it-will-go-live-with-all-viable-cryptocurrencies/
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