Exploratory List Of Coinbase Has Listed Cryptos Jump 17% In Price

It seems that investors are taking the opinions of the Digital Asset Framework of Coinbase quite to heart in regards to looking at new potential listings. This can be seen due to the listed assets going up anywhere between 8% to 25%, with the average being a 17% rise. This comes according to data provided by Messari. The KEEP token, coming from the namesake KEEP Network, enjoyed the highest spike in value. As it stands now, the coin is worth around $0.44 each.

Many Inclusions With Stipulations

The list, standing at 19-strong at this point, includes names like Aave, Aragon, Siacoin, Bancor, Ren, Origin Protocol, and VeChain. The US exchange holds other names on the list, as well, such as COP, Arweave, Horizon, DigiByte, NuCypher, Livepeer, Render Network, Numeraire, Synthetic, and SKALE network.

The blog post regarding this new listing was quick to stipulate a few key matters about the listing, as well. The company explained that the decision to support any form of asset mandates a large amount of compliance and technical review. Furthermore, the coins themselves are then subject to regulatory approval of external jurisdictions.

The Coinbase Effect In Action

With this process, customers can expect to start seeing application programming interfaces (APIs) visible to the public, as well as other signs. This comes as a result of the exchange itself works towards potentially supporting the listed assets on its exchange.

It goes to show that Coinbase stands as a global heavyweight, with a massive amount of influence when it comes to announcing listings. This is to such a degree that it’s even dubbed the “Coinbase Effect,” and has proven more trouble than it’s worth by some coins. Assets often rise dramatically during the announcement, before subsequently dumping hard when the listing had been confirmed.

Visions Of Grandeur

The blog post went into further detail, explaining that Coinbase expects that its global customer base will eventually be capable of accessing a minimum of 90% of the entire market cap of the world’s crypto in circulation. This is expected to be done through the various Coinbase platforms out there.

Coinbase had suffered yet another outage as the price of BTC touched past the $10,000 mark. Before this, the exchange had managed to buckle under the weight of the last >Bitcoin rally, as well, which occurred on the 29th of April.

Time and time again, the exchange seemed ill-prepared for a massive influx in traffic. With any luck, this will be remedied in time. While the exchange doubtlessly has access to a lot of capital, upgrading to a scale that would see it not crash when the market gets flooded is a whole other matter entirely.