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Cardano (ADA), BAT, Stellar (XLM), ZCash and ZRX Continue to Gain Amidst Coinbase News

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In a tweet just yesterday, popular American cryptocurrency exchange known as Coinbase, announced that it was exploring the possibilities of adding the following 5 cryptocurrencies on its platform:

  • Cardano (ADA)
  • Basic Attention Token (BAT)
  • Stellar (XLM)
  • ZCash (ZEC)
  • Ox (ZRX)

The team at Coinbase added that:

We are making this announcement internally at Coinbase and to the public at the same time to remain transparent with our customers about support for future assets.

They also cautioned that the listing of the 5 new digital assets was not a guarantee:

Unlike the ongoing process of adding Ethereum Classic, which is technically very similar to Ethereum, these assets will require additional exploratory work and we cannot guarantee they will be listed for trading.

What then happened, is that each of this digital assets soared in the markets by the double digits. Crypto-traders loved the fact that Coinbase had even mentioned the possibility of adding new assets on the platform.

The screenshot below from CCN.com shows the performance of the digital assets right after the Coinbase announcement.

Market reaction after the Coinbase announcement. Source, CCN.com

Looking once again at the 5 digital assets, we find that Stellar (XLM) is up 6.17% and is trading at $0.198. Cardano (ADA) is trading at $0.136 and up 5.59% in the last 24 hours. ZCash (ZEC) is currently up 9.32% and trading at $172. Ox (ZRX) is showing impressive gains at 15.84% and trading at $0.95. Basic Attention Token (BAT) has not been left behind and is currently up 15.27% in the last 24 hours and trading at $0.30.

Current market performance. Source, coinmarketcap.com

The performance of these 5 digital assets has shown that the crypto-markets can still get exciting despite the bearish mood. The total market capitalization is currently at $247 Billion and Bitcoin (BTC) is trading at $6,233. However, many crypto traders are optimistic that the tide will change with the existing Bitcoin ETF filing by the CBOE still under review by the SEC. If the SEC approves the ETFs, the crypto-markets will once again be alive. South Korea has already given exchanges in the country, the go ahead to continue trading after meeting new regulatory requirements.

Disclaimer: This article is not meant to give financial advice. It is an opinion piece. The opinion herein should be taken as is. Please carry out your own research before investing in any of the numerous cryptocurrencies available.
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