No longer looking to be the " stamp of approval" Coinbase wants innovation led by the amount of legal assets it can offer, and will leave it to the free market to decide who is the next best bet.
Let us wait to see where it leads to!
Some new listings show this strategy already.
FARM, FET, PAX and POLY
Currently available to Pro users, in USD and USDT pairs.
FARM, recently listed, jumps 160%. Wow!
CB launches Alchemy Pay (ACH), PlayDapp (PLA) and Rai Reflex Index (RAI)
ACH is up almost 600% since listing on 08/02. Less than 7 days! CB Bounce is back at it again.
Started on CB at $0.014. Currently trading at $0.1490. Traded as high as $0.2410 about 5 and a half hours ago.
CB recently launched Axie Infinity (AXS), Request (REQ), TrueFi (TRU), Quickswap (QUICK) and Wrapped Luna (WLUNA).
AXS/USD has made huge moves, increasing 300+% in the last 30 days, from $14.50 to almost $80. Currently trading at $70.
Whose stamp of approval were they seeking?
If you mean Coinbase and their change of course, their investors.
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Yes, that’s what I meant. thank you for clarifying!
3 new listings
- RAD - Radicle, an open source software collaboration network
- DFI.money - hard fork of yield farming aggregator Yearn.finance
- DDX - native asset of DerivaDEX, a community-driven derivatives exchange
After the surprise listing, all three are up double-digits, with DDX up 70+%.
Shares of Coinbase fell as much as 3.2% after it became evident the Securities and Exchange Commission (SEC) in the U.S. plans to take an enforcement action against the crypto exchange, over an interest earning product, which was about to be launched in the coming weeks.
Coinbase said it has received a notice from SEC earlier this week and has delayed the launch of the product until at least October.
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Two new listings on Coinbase Pro:
- RTG: Rari Governance token, that is used for fee discounts and protocol governance.
- XYO - an Ethereum token that powers XYO Network, a decentralized network of devices that anonymously collect and validate geospatial data.
Two more to add to the list:
- ZEN: a blockchain ecosystem that enables privacy-preserving decentralized applications.
https://blog.coinbase.com/horizen-zen-is-launching-on-coinbase-pro-1a0907b809ec
- BTRST: an Ethereum token that powers Braintrust, a decentralized talent network connecting freelancers with organizations
https://blog.coinbase.com/braintrust-btrst-is-now-available-on-coinbase-5c64a363c9f0
I have not even heard of some of those. What prompted this change actually?
Fees, fees and more fees! Lots of money to be made by listing as many assets as possible. And it’s working.
And another.
This time ASM - Assemble Protocol, which is an Ethereum token that merchants will use to offer their customers rewards.
Now you’ll never lose rewards point it seems!
https://blog.coinbase.com/assemble-protocol-asm-is-now-available-on-coinbase-5411d68dfd2b
I’m a bit late with this one, but if you were timely in reading this and were able to make some key investments, you’d be a happy trader today.
Coinbase listed the following coins:
Alchemix (ALCX) is an Ethereum token that governs Alchemix Finance, a protocol that lets users open collateral-backed loans that are paid off automatically using yield generated by the collateral. ALCX can be used to propose and vote on changes to the protocol.
Ethereum Name Service (ENS) is an Ethereum token that governs the Ethereum Name Service, a protocol for human-readable crypto addresses and decentralized domain names. ENS will be used to propose and vote for changes to the protocol.
Gala (GALA) is an Ethereum token that powers Gala Games, a platform for blockchain gaming. GALA is used as the medium of exchange between Gala Games participants. For example, it can be used to pay for in-game items.
mStable USD (MUSD) is a decentralized stablecoin running on Ethereum that attempts to maintain a value of US$1.00. Unlike centralized stablecoins, MUSD isn’t backed by US dollars in a bank account. Instead, it’s backed by an array of other stablecoins deposited as collateral on the mStable protocol.
Power Ledger (POWR) is an Ethereum token that powers the Powerledger platform, which aims to enable peer-to-peer energy trading. POWR is required to participate in Powerledger and helps secure its various products, including energy trading, clean energy tracking, and verification.
GALA has rallied over 100% TODAY, open to peak price. It’s settled a bit, still up 80%. WOW. POWR has also moved significantly in the last 2 days, up 153% at one point, but now still maintaining gains of 95% from Monday’s open.
The power of the Coinbase bounce.
I also missed some other coins hitting the platform in the recent weeks. Since listing ZEN and BTRST on 09/21, Coinbase has also listed:
- Crypto.com Protocol (CRO), listed 11/03
- Kryll (KRL), listed 10/28
- LCX (LCX) listed 10/28
- SUKU (SUKU), listed 10/28
- OriginTrail (TRAC), listed 10/28
- Assemble Protocol (ASM), listed 10/21
- ARPA Chain (ARPA), listed 10/19
- Bounce (AUCTION), listed 10/19
- Perpetual Protocol (PERP),, listed 10/19
- BadgerDAO (BADGER), listed 10/14
- Rarible (RARI),, listed 10/14
- tBTC, listed 10/07
- Function X (FX), listed 10/07
- Jasmy (JASMY), listed 10/07
- Wrapped Centrifuge (WCFG) listed 10/07
- Avalanche (AVAX). listed 09/30
As I said, their strategy has changed to listing anything and everything.
Meanwhile Coinbase’s co-founder Fred Ehrsam raised some 2,5 bln USD for a new crypto venture- capital fund.
The fund is so far the largest of its kind, surpassing that of Andreessen Horowitz, which earlier this year raised 2,2 bln.
They are doing pretty well these days.
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I think the latest stat is that 10% of all crypto is held with Coinbase. Wow!