Coinbase, the leading crypto exchange in the United States, is considering the addition of 19 digital currencies that include tokens from the decentralized finance (DeFi) ecosystem to wrapped cryptos.
As announced on Friday in an official blog post, all the Cryptocurrencies on Coinbase’s list are Ampleforth, Band Protocol, Balancer, Blockstack, Curve, Fetch.ai, Flexacoin, Helium, Hedera Hashgraph, Kava, Melon, Ocean Protocol, Paxos Gold, Reserve Rights, tBTC, The Graph, THETA, UMA, and WBTC.
Coinbase detailed that the addition of these coins will require significant technical and compliance review on the part of the exchange, and in some cases even a green light from the local regulators.
“We, therefore, cannot guarantee whether or when any above-listed asset will be listed on a Coinbase product in any jurisdiction,” the San Francisco-based exchange stated.
The popular crypto exchange and wallet platform also detailed that it will follow a "jurisdiction-by-jurisdiction" approach in listing the digital currencies, meaning its users might get their access early compared to others.
“As part of the exploratory process customers may see public-facing APIs and other signs that we are conducting engineering work to potentially support these assets,” Coinbase added.
Positive Reaction in The Market
The move came when the cryptocurrency market gained steam and was slowly moving towards a bull run again. Consequently, major cryptos like Bitcoin and Ethereum have recently breached major resistance levels.
Following the news of the possible Coinbase listing, most of the coins have surged significantly - Ocean Protocol is among the leading gainers propelling them more than 17 percent in the last 24 hours, while Balancer also gained in double-digits, as seen on Cornmarketcap.com.
This surge in prices with major listing is usual with crypto as, last May, Maker, the token of one of the major DeFi platforms, surged 37 percent due to the listing on Coinbase.
