As Investors Respond to Coinbase, Cardano (ADA), Stellar (XLM) See Green- Sun Jan 06

Yesterday, EWN reported that, Coinbase (well-known U.S. based crypto exchange) announced the ongoing examination of 31 new currencies, including the previously announced Cardano and Stellar.

Since first teasing the world with an update last July that Coinbase would be exploring five new currencies, investors have been waiting for the addition of XLM and ADA, ranked 11th and 4th respectively, by market cap.

Following the July announcement, the company has listed 0x, Basic Attention Token and ZCash, putting the listing of the two more popular coins on hold.

Also, both ADA and XLM would provide for the exchange, an attractive addition, with both having a low price per coin and high supply currencies.

Both coins also have strong ties to crypto growth, with XLM being in a featured relationship with IBM and ADA having a host of ties to other projects through its founder and Charles Hoskinson, CEO of IOHK.

Moreover, as we enter the month of December, investors are having to contend with the possibility that an ADA and XLM listing on Coinbase may not occur until next year. The bulls still managed a slight rally for XLM and ADA on the day, with both currencies posting 2-3% gains in an otherwise sea of red.

Importantly, the update on 31 new currencies being explored by Coinbase also included the option of listing XRP. In the beginning of January, XRP was at an all-time high of $3.80 with investors pumping the price in anticipation of an addition to the exchange.

Instead, Coinbase pulled the rug out from the second largest coin by market capitalization, causing its price to tumble throughout the year to a relative low of $0.25.

Considering the current dire situation of the crypto markets, with a recovery to December 2017 prices potentially still years away, Coinbase could be considering XRP as a way to catalyze further growth to its exchange in offering users with higher market cap coins.

Crypto Destroyer

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