Coinbase Teases 19 Cryptocurrencies They May List; Prices Jump Across the Board

One of the largest US based crypto exchange Coinbase has revealed that it is reviewing additional 19 cryptocurrencies for potential listing.

The San Francisco-based crypto exchange has announced that the 19 cryptocurrencies are being reviewed as per its Digital Asset Framework which will determine if they will be listed on its popular trading exchange platform.

The firm revealed that it is reviewing the graph, wbtc, uma, tbtc, theta, reserve rights, flexacoin, paxos gold, helium, ocean protocol, Hedera hashgraph, melon, keva, ampleforth, band protocol, fetch.ai, balancer, and curve.

The firm explained that the review process will check various technical and compliance analysis of the above mentioned cryptos where some of them may need to have regulatory license in various jurisdictions.

The exchange however cautioned that being under review doesn’t mean the cryptocurrency will be guaranteed of an automatic listing. The firm also clarified that those not under review doesn’t disqualify them from potential future listing. The firm stated,

“As per our listing process, we will add new assets on a jurisdiction-by-jurisdiction basis, subject to applicable review and authorizations. The omission of assets from this publication does not disqualify any such asset from active review and potential listing.”

The firm did not give any timeline on when the review process will be finalized or when the cryptocurrencies can expect to be listed.

As data from CoinMarketCap shows, most of the crypto assets under Coinbase’s review are trading within the green zone which is defined as 2-8%. There are some which have outperformed others like UMA (+10.05), Ocean Protocol (+12.93) and Melon (+17.23%).

Previous support of cryptocurrencies by Coinbase have led to a surge in the value of these coins and tokens. For instance, in June, the exchange’s support for COMP solidified its ranking as a major DeFi token. Similarly, the listing of MakerDAO (MKR) token back in May led to a surge in its prices in major exchanges. However, the ‘Coinbase Effect’ may not always yield a positive effect on the market.

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Author: Joseph Kibe

Korea’s Biggest Crypto Exchange, Bithumb, Sets Up a Listing Committee, Drops Failing Coins

South Korean crypto exchange Bithumb will begin reviewing its crypto listings monthly, intending to drop failing coins. The exchange’s newly formed Eligibility Deliberation Committee will determine which coins will be dropped based on criteria including low trading volume, low market capitalization, and lack of support from developers.

According to CoinDesk the committee came into motion on Aug. 22. This committee will keep a check on the listings of the exchange every month.

The factors that the committee will consider doing will include daily trading volume, the change in base market and project support and many others. The currencies that will fail to meet the set standards will be given a time of 60 days to get their performances a notch higher. After this period, the currencies will be delisted.

According to a report from Yonhap, Bithump’s aim is to strengthen the check on technology development efforts and utility of crypto projects. The statement read:

“We will take the lead in protecting investors by creating a transparent and safe trading environment.”

This step was taken after some unauthentic coins were put in the trading lists that later fell in their performance. Also, there will be stringent measures taken into form with new coins that are being added to the market.

The committee is reported to consist of lawyers and professors who will bring expertise in the legal, technology and finance into the exchange’s review of the listing process.

The move by the giant crypto exchange comes after a general upgrade of standards at exchanges after the South Korean government agencies enhanced their crackdown on crypto businesses in the country. Banks in South Korea have also upped their anti-money laundering standards when it comes to crypto exchanges.

At the start of August, Coinone sought the services of Certik to carry out a security validation of the exchange. The exchange then published a procedure to be followed by coins seeking to be listed on the exchange. Although Coinone’s move is different from Bithumb, the two initiatives are meant to enhance the security as well as the credibility of the trading platforms.

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Author: Joseph Kibe