Coinbase Lists BAT After Months of Speculation
The token will be traded later after liquidity has been established.
Speculation Over Coinbase Third Token Choice
Leading cryptocurrency exchange platform Coinbase has listed the BAT token. The token is a product of Brave Browser. BAT will be listed on the Coinbase Pro platform.
Coinbase made the announcement on Friday through a tweet. The listing takes effect immediately with investors allowed to deposit similarly. The token is backed by the ethereum network. In the meantime, trading has not begun since the exchange is awaiting the establishment of liquidity.
Notably, unlike in other parts of the world, investors based in New York will not have access to the token. This is due to an existing strict cryptocurrency regulatory framework. The trading of BAT will take place in transfer-only, post only, limit only and full trading stages.
Investors should note that currently, BAT is not accessible through the Coinbase Consumer platform. Additionally, it is not accessible through mobile phone applications. However, Coinbase has promised to notify users once the token is available on its platforms.
Following the announcement by Coinbase, BAT has risen by 13.5% to trade at $0.291. The addition of BAT comes after months of speculation. The exchange hinted that it might list XLM, 0x, ADA, ZEC and BAT.
The firm which enjoys a market value of $8 billion announced that it was collaborating with banks in plans to list more assets to its platform. It was targeting various banks from different regions.
Following the announcement, nothing had been heard from Coinbase for months. About two months ago, reports emerged claiming that the exchange was set to list 0x. Coinbase confirmed the rumours in mid-September by listing its first ever token on 0x. Many are now speculating the next token to be added after BAT. At the moment, ADA, XLM, and ZEC appear to be on the Coinbase's radar.
For ZEC, it might not be listed by Coinbase following numerous technical changes. The token’s protocol has been upgraded profoundly. The update has forced many exchanges to shut down deposit and withdrawal of the token. The token’s sapling has been altered drastically. The changes might force Coinbase to look for another option.
ADA is doing well in crypto circles. However, some sections have raised issues regarding short-term success. Despite the token receiving approval from leading heads, some think that it has not matured enough to be listed on Coinbase.