A few hours ago today Zcash (ZEC), Basic Attention Token (BAT) and 0x (ZRX) got a listing nod from Coinbase and the chart have suddenly turned green for the three market strugglers in the crypto verse. Listing on this US based exchanges outfit is a dream for many tokens and coins and this is a big plus for the coins.
The beauty of the of these three Coinbase entrants is that their stability has been tested and proven to be viable going into the future. However, questions are being asked as to why the crypto exchange is living out valuable digital assets and list new market entrants.
Coinbase is Regulator Driven
With the current regulations taking center stage to determine who gets listed on regulated exchanges and those to be locked out, at least for now Coinbase has its own house keeping rules that hay are also striving to impose on new listings. The statement from the exchange was concise and brief and it read in part:
“We are exploring the addition of several new assets, and will be working with local banks and regulators to add them in as many jurisdictions as possible.”
The announcement had had a huge impact on the three coins and in a few ours it came to the public domain, the prices of ZEC, BAT and ZRX got a major spike and enthusiasts are waiting to see if these will be short or long term gains. Below are some of the highlights from the Coinbase listing and the future prospects of each coin.
Zcash has surprised many by getting listed on the prestigious US exchange platform given that privacy coins have has it rough getting listed on fully regulated US exchanges. However, the coin has been working on meeting the threshold of the regulations and deserves the nod.
Before the announcement, ZEC was trading at the $153.12 zone and after the announcement the coin it the day’s high of 17.50% to trade at $185. However the price seems to be finding a stable ground and at the time of reporting, ZEC coin was trading at 172.65 representing a marginal gain of 9.52% to the green buck.
Basic Attention Token (BAT)
Basic Attention Token (BAT) has been rising in the market steadily and its progress has attracted the attention of Coinbase. With a stable price, it will gain additional traction after listing plans are finalized. Technically, the coin is among the best in and a breakout is anticipated after the boost that will lead to price appreciation and value growth.
After the listing news broke out, the token price skyrocketed a to a days’ high of $0.332 making it trade in the double digit zone of 17.70% for the first time in 7 days against the USD. Prior to writing, the price was being quoted at $0.325 reflecting to gains of 21.69% against the dollar, 22.19% to the Bitcoin and 23.05% to Ether.
0x appears to be the biggest gainers after the Coinbase news which saw its price spike north to 33.21% before slowly moving to the current 16.52% against the dollar. This saw the coin earlier hit the $1 mark before dropping marginally to the dollar to sell at $0.94694.
The announcement has also seen a spike on its volumes with much of it coming through Binance at 62.02% with the best choice pair being ZRX/BTC and ZRX/ETH. This spike is a clear indicator that the coin is set to establish its presence among the 50 most valuable coin in the market in the coming few months
The announcement might not be sustainable at the moment but once the listings are confirmed, the value, price and appeal of Zcash (ZEC), Basic Attention Token (BAT) and 0x (ZRX) coin and areas investors need to keep an eye on.