Coinbase mulls addition of 5 coins, boosting crypto prices

July 16, 2018
Chris Wheal

Coinbase said on Friday that it was looking into adding support for five new cryptocurrencies on its platform, driving prices higher over the weekend and into Monday morning.

San Francisco-based exchange to consider adding further tokens

The San-Francisco-based cryptocurrency exchange said in Friday’s blog post it was “exploring the addition” of the following assets:

  • Cardano (ADA)
  • Basic attention token (BAT)
  • Stellar lumens (XLM)
  • Zcash (ZEC)
  • 0x (ZRX)

Transparency

Coinbase said it was making the announcement public to remain transparent with its customers about support for future assets.

It added a caveat, however: “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.”

Crypto prices rise

Both cardano and lumens are among the 10 largest cryptocurrencies by market capitalisation, and both were among the biggest gainers over the weekend. Between Friday’s announcement and mid-morning on Monday, Stellar’s lumens were up 20.1% while cardano added 13.4%.

On Monday, most of the top 10 cryptocurrencies were putting in another session of gains. Here’s how they stood at 10.15am London time:

  • Bitcoin was up 1% at $6,388
  • Ethereum added 3.2% to $454.66
  • Ripple gained 0.7% to $0.45
  • Bitcoin cash rose 1.9% to $732.48
  • Eos climbed 4.1% to $7.34
  • Litecoin nudged 1.5% higher to $78.87
  • Stellar lumens was up 2.8% at $0.22
  • Cardano gained 3.3% to $0.14
  • Iota rose 2.3% to $1
  • Tether eased 0.7% lower to $1
Post written by Chris Wheal
Chris Wheal is editor of OpenLedger's news and features service. An award-wining business journalists himself, he runs a team of freelance journalists from across the UK and north America.

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