Every time news about the possibility of a coin being listed on Coinbase emerges, its price goes all the way up, even though there’s nothing official about it. Take Cardano, for example, who is expected to be present on the exchange soon.
The coin has been constantly linked with a linking on the United States-based platform, according to CryptoGazette, and this can be easily observed in how its price evolved. Obviously, exposure on Coinbase means that the project will be accessible to over 10 million users in an emerging US market.
But why isn’t the listing happening already?
Officially, Coinbase sticks to its initial statement: there aren’t any plans of adding any news assets on the exchange in the short term. They even sent a tweet, on March 5, on their account, stating the following:
“Our January 4th, 2018 statement continues to stand: we have made no decision to add additional assets to either GDAX or Coinbase. Any statement to the contrary is untrue and not authorized by the company.”
Still, why rumors about Cardano and other coins being next in line for listing keep appearing? Is it just a strategy to influence the price?
There was constant speculation that ADA, Cardano’s token, is next in line for listing, as the exchange must – at some point in the future – consider adding new coins, in order to continue its dominance in the US market. After all, any other way of dealing with this will eventually open up doors for competitors, which automatically means threatening its own market.
Even more, ADA could be a valuable addition, as it managed to establish itself in the top markets, besides meeting all the requirements for eligibility.
ADA has bigger chances than XRP to be added!
The first rumors appeared immediately after Coinbase announced that they’re considering supporting the addition of ERC-20 token assets. Obviously, two of the main coins which attracted the most interest were ADA and Ripple’s XRP.
We all know the story behind Ripple’s possible listing and its attempt to actually be listed, but experts believe that Cardano has all the chances to be added.