The popular virtual currency exchange Coinbase decided to open trading services for 4 new virtual currencies. Civic (CVC), District0x (DNT), Loom Network (LOOM) and Decentraland (MANA), are the new coins added to the platform as post-only. These virtual currencies are all based on the Ethereum ERC-20 technical standard. The information was released by Coinbase in a blog post a few days ago.
Coinbase Lists New Coins
Coinbase announced on December 7 that it was exploring the addition of new assets. Among these digital coins, they included MANA, DNT, CVC and LOOM. A few days later, these assets are already available in Coinbase’s platform for interested users. Users could transfer the funds into their accounts and prepare the system for buying and selling.
However, there were several experts commenting that some of the projects listed by Coinbase are ‘literally zombie projects.’ This is what Larry Cermak, head analyst at The Block, wrote on Twitter after the announcement made by Coinbase.
Listing Civic and Mana is a total joke. Coinbase is losing all the credibility today. Both are literally zombie projects. I’m honestly shocked
— Larry Cermak (@lawmaster) December 7, 2018
In the list provided by the crypto, platform some other important coins were included such as XRP, Stellar Lumens (XLM) or Cardano (ADA). Indeed, Coinbase has previously announced that it was exploring the addition of ADA and XLM.
The cryptocurrency community is waiting for Coinbase to list XRP, the second most valuable digital asset in the market after Bitcoin (BTC). XRP has shown to be very resilient during the last few months and was able to surpass Ethereum (ETH), as the second largest cryptocurrency.
XRP has also a clear use case and it has been embraced by companies that want to reduce transaction costs. Ripple is also working with XRP trying to promote it as a liquid asset for cross-border payments.
Coinbase commented about this issue:
“We recognize that there are popular assets that we have not yet added to our platform. Our decision to add ERC20 tokens first is based on the relative ease of integrating the standard with our existing infrastructure, particularly from a security standpoint.”
XRP, Stellar Lumens, EOS and Cardano are perhaps the most important tokens that the crypto community is expecting to see added to the platform. Nevertheless, it is only possible to wait until the decision is taken by the platform.
Earlier this year, Coinbase added support for USD Coin (USDC), Ethereum Classic (ETC), 0x (ZRX), Basic Attention Token (BAT) and ZCash (ZEC).
