A few months ago, it was reported that Coinbase was exploring adding five new coins to its platform. These included 0x (ZRX), Basic Attention Token (BAT), Cardano (ADA), Zcash (ZEC) and Stellar (XLM). Well, now in a surprising move, the platform has added 0x. On October 16, the popular crypto exchange announced that they were now supporting 0x. This has led to an outstanding performance from the coin and at the time of press and is up by 28%. BAT prices responded positively, and continue to hold with optimism.
The same news of the listing of the coin has triggered speculation over the next listing. Many now believe that BAT will be next to be listed on the exchange. The speculation has in hand triggered a price surge and at the time of press, BAT is up by 15%.
A couple of weeks ago, Coinbase announced that in the coming weeks it was planning to “rapidly list more coins”. At the time, many speculated that Ripple would be the first to be listed, but this is yet to materialize. The listing of 0x as the first coin since that announcement, however, proves that the coins the exchange had intended to support at first, have an upper hand.
According to the exchange, the plan to rapidly add more coins will see Coinbase list more coins in the shortest time in the coming weeks. This means that if indeed BAT is the next coin to get the privilege of being listed on Coinbase, we could see it happen very soon.
BAT Price Analysis
At the time of writing this, BAT price is trading at $0.215185 with a market cap of $215,184,966. This makes it the best performance since September 05, when it was trading above that position. This goes to show that the month of September wasn’t particularly good to the coin. While October had started off steady, the market dump witnessed on October 11 saw the coin fall as low as $0.13.
Halfway through the month and BAT might be turning around its luck. If the surge continues and indeed if Coinbase is to support the coin in the coming weeks, we could see BAT record more gains.
If BAT price was to hit the $0.25 resistance level, we could see it soar to its all-time high of $0.90 in the coming weeks. However, the only real positive trigger that could cause this positive momentum can only come from Coinbase.
According to Coinbase on an earlier announcement, the listing of the four coins they were exploring was going through approval stages from the SEC and other local authorities.
John is a finance and technology journalist with a growing interest in cryptocurrencies. Writing is his passion and when he’s not writing he’s listening to the Beatles.