One of the largest and most trusted cryptocurrency exchanges, Coinbase have recently announced that they’re exploring the support of 18 new cryptos on their platform for 2020. The release of this information could potentially be good for the prices of these new Coinbase coins. In this post, we’ll look at the announcement and into each of these potential additions.
What New Cryptos Will Coinbase Support?
Coinbase announced in a blog post from June 10th 2020, that they are currently exploring the support for the following tokens; Aave, Aragon, Arweave, Bancor, COMP, DigiByte, Horizen, Livepeer, NuCypher, Numeraire, KEEP Network, Origin Protocol, Ren, Render Network, Siacoin*, SKALE Network, Synthetix, and VeChain.
When Will the New Tokens Be Available?
They are yet to announce a timeline for listing these assets. As Coinbase states that the process requires “significant technical and compliance review”, in addition to some regulatory approval.
They’ve stated that they “will add new assets on a jurisdiction-by-jurisdiction basis, subject to applicable review and authorizations,”. And that “customers can expect Coinbase to make future, similar announcements as we continue to explore the addition of numerous assets across the platform.”
As part of their process, “Coinbase users may see public-facing APIs and other signs that we are conducting engineering work to potentially support these assets“.
This information could potentially be good for the prices of these tokens. For example, one of the reasons for MakerDAO’s recent influx in price has been given credit to being added on Coinbase. Plus on the announcement of Stellar Lumens being added the token gained around 6% on the day.
New Potential Assets Coming to Coinbase
There are (potentially) a total of 18 new Coinbase coins joining the exchange. If you’re not too sure what they are, or their purpose below is a brief summary of each.
Prior to its rebrand to Aave, this project was previously known as ETHLend. One of the very first Defi lending platforms launched back in 2017. With Aave, users can earn interest on deposits and borrow assets. Their ‘LEND’ ERC20 token, is the native token for the Aave protocol.
AAVE (LEND) Price
How to Buy AAVE (LEND) Tokens?
Aave (LEND) tokens can be purchased on the likes of Binance and HitBTC.
The Aragon (ANT) project is led by Luis Cuende (featured in Forbes 30 under 30 for technology). It’s a decentralized platform built on the Ethereum network. Which offers a modularized way to create and manage dApps, cryptoprotocols, and decentralized autonomous organizations (DAO). The ANT ERC-20 token will enable its holders to govern the Aragon Network.
Aragon (ANT) Price
How to Buy Aragon (ANT) Tokens?
Aragon (ANT) tokens can be purchased on exchanges such as; Bittrex, Bitfinex and HitBTC.
Arweave is a new type of storage that backs data with sustainable and perpetual endowments. Allowing users and developers to truly store data forever. As a collectively owned hard drive that never forgets, Arweave allows us to remember and preserve valuable information, apps, and history indefinitely. Preserving history, it prevents others from rewriting it.
Arweave (AR) Price
How to Buy Arweave (AR) Tokens?
Arweave (AR) tokens can be purchased on MXC, Hoo or Bilaxy.
The Bancor Network is a cross-chain cryptocurrency conversion platform that lets you convert between Ethereum and EOS tokens without the need for a middleman or other third party. The Bancor Network Token (BNT) is the intermediary token used by Bancor to initiate exchanges. Plus, it’s both an ERC-20 token and an EOS token.
Bancor (BNT) Price
How to Buy Bancor (BNT) Tokens?
The Bancor (BNT) tokens can be purchased on the likes of Binance, HitBTC, Poloniex and Bitfinex.
Compound Finance recently introduced a governance token, “COMP”. This allows the token holders and delegates to vote on important protocol decisions like new collateral types, borrowing power, and interest rate models. COMP holds no economic benefits and is solely used to vote on protocol proposals.