Major cryptocurrency exchange Coinbase have announced that they are “exploring” support for 30 new digital assets to be listed on their exchange.
The US-based exchange have been, by their standards, prolific in listing coins and tokens in recent months, adding the likes of Zcash, Ethereum Classic, and Brave Attention Token.
In a statement on Friday, Coinbase confirmed they were “continuing to explore the addition of new assets, and will be working with local banks and regulators to add them in as many jurisdictions as possible.”
The ultimate goal is “to offer our customers access to greater than 90% of all compliant digital assets by market cap.”
Coinbase is exploring the addition of 30+ new digital assets. It’s our goal to offer support for all assets that meet our standards and are compliant with local law. https://t.co/Hl2zbVodLl
— Coinbase (@coinbase) December 7, 2018
Among the tokens currently being considered is the controversial XRP token, which is viewed negatively in the cryptocurrency space due to the centralised aspect of the business. Also being considered are EOS, ADA, CVC, LINK, NEO, OMG, and many more.
Unlike last year, when a major exchange listing would see the price of the listed digital asset inflate, this year we have seen the opposite happen. Cryptocurrencies have started to suffer in light of being listed on exchanges like Coinbase, with BAT dropping over 50% in USD value since being listed.
However, Coinbase’s decision to accelerate their listing process is potentially bullish in the long term. Last December, Coinbase was the most downloaded app on Apple’s app store, meaning that accessibility of listed digital assets will be high when the market cycles back around following the gruelling past 12 months.
For Coin Rivet’s exclusive guide on cryptocurrency exchanges, including Coinbase, click here.
Disclaimer: The views and opinions expressed by the author should not be considered as financial advice. We do not give advice on financial products.