This Coinbase listing is already getting most token holders excited as five more coins joined the race to gain a listing. Cardano (ADA), ZCash (ZEC), 0X (ZRX), Stellar Lumens (XLM) and Basic Attention Token (BAT) have all been tipped to be added to the exchange but with no certainty. Coinbase cryptocurrency exchange is currently one of the largest exchanges in the world when it comes to volumes traded and profitability. However, it’s the influence the exchange has on cryptocurrencies’ prices that ticks the exchange as the best yet. This massive influence has already been manifested in the price of the tokens mentioned above as each coin/token saw its price rise after the announcement.
Even as token holders, enthusiasts and shillers get excited with the ‘exploration’ to add them on the world’s most influential cryptocurrency exchange, the warning given by Coinbase raises some doubt as to which of the coins will be added to the exchange. In their press release, Coinbase cautioned that the rules regarding securities from the Securities Exchange Commission (SEC) will be heavily explored to decide what cryptocurrencies to be added on the exchange.
“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.”
–Coinbase press release on the addition of cryptocurrencies to the site
In this regard, focusing on the addition of the chosen pentagon of cryptocurrencies is a false move as any of them may miss out. One of them however is showing more will to survive the race than the rest, Basic Attention Token (BAT).
The little known token is heavily overshadowed by the huge media coverage of Cardano and Stellar but may well see itself surpass the two to become the first to be listed. The whole idea behind listing lies in the regulations set by the SEC as Coinbase clearly stated which will give BAT an edge.
Basic Attention Token (BAT) is a digital advertising utility token. Inasmuch as BAT is not a digital currency or commodity it is embedded on Ethereum technology and used as a unit of account between publishers, users and advertisers on a new digital browser, Brave. The browser prevents advertisers from invading users’ space and privately measures the attention of users on the website. It boasts to be 2 – 8 times faster than Chrome and Safari browsers.
BAT offers a long term solution as a new era of social media turns to marketing, Most of the coins simply offering a payment system or transfer of value compete in an overcrowded market of cryptocurrencies doing the same thing. For BAT however, the token offers utility to its users in a field that is rapidly growing giving it a long term view to adoption and customer retention.
In the slowly recovering market, the token emerged the best performing token amongst the five chosen with a return of 10.87% since the announcement. Is investor’s confidence in BAT over the rest of the chosen pentagon showing? It would be a huge miss for Coinbase if it overlooks listing one of the most futuristic cryptocurrencies today.