A hint that Coinbase plans to list more cryptocurrencies was revealed in a press release on the 25th September. On hearing this, there was a big rally in the market with the price of XRP up by 18.51%, as the announcement reveals that XRP will be one of the tokens to be listed.
Coinbase To List More Assets On Its Platform
The recent announcement as published on the site’s official blog on Tuesday informs the cryptocurrency community on its new listings procedure. The platform made known its intentions towards adding support for new cryptocurrencies on the platform to further its cause.
Coinbase exchange at the moment, famed as the third largest cryptocurrency exchange in the world, supports, Bitcoin, Bitcoin Cash, Ethereum, Ethereum Classic, and Litecoin.
Notably, the cryptocurrency space is presently filled with arrays of digital assets, which includes, coins, tokens, and collectibles. Coinbase has seen steady growth for a while.
According to the update, it stated that the exchange announces “… a new process that will allow us to rapidly list most digital assets that are compliant with the local law, by satisfying listing requests in a jurisdiction-by-jurisdiction manner.” This infers that new assets listed may be available and may not be, depending on the locality of a user.
Further, the new process will involve issuers to fill out an application form to list asset on the platform which will subsequently be followed by evaluation against the exchange digital asset framework. The digital asset framework and the form will be updated regularly to meet the platform’s latest demand.
Also, the exchange stated that listing on its platform presently attracts no application fee, however, depending on the volume of listing the exchange has the right to impose a fee in the future to meet the demands of legal and operational costs of evaluation and listing various digital assets.
The release noted that more assets are underway to be listed based on the evaluation and the discretion of the exchange, while digital assets can apply to the platform for listing.
Furthermore, the exchange will be improving its tools and education materials to attend to the needs of the exchange users as expansion is set to take place.
XRP Has Surpassed Ethereum for the second time in less than a week, XRP Has been Performing Top Notch in the Month Of September And is Not showing any sign Of slowing down Anytime soon.
The current exponential price explosion of XRP hasn’t gone unnoticed in comparison to the market dominance of others like Bitcoin. In fact, XRP’s growth has put the crypto in a very potent position to challenge Bitcoin in market domination, and the effects have been clear.
The Impact Of Proposed Action on Cryptocurrencies
Coinbase release shows the prospect of Ripple (XRP) getting listed on the platform soon. Especially, with the increasing demand by Ripple’s enthusiasts.
The previous week saw Ripple take a drastic increase due to the news of its partnership with American Bank, PNC and also its xRapid project that will be launched soon.
Though the bullish trend from the upper week had started to reverse, the prospect of the cryptocurrency getting listed on Coinbase impacted a further rally as the value of XRP went from $0.436 to $0.478.