In a release this morning the crypto exchange said it will be: “Offering more crypto assets, quickly — we see hundreds of cryptocurrencies that could be added to our platform today and we will lay the groundwork to support thousands in the future.”
In the past, a Coinbase listing has been the jet propulsion alt-coins needed to scream higher. Bitcoin Cash, Ethereum Classic and 0x all more than doubled in value after the announcement was made they’d be added to the mix.
This could light a fire on alt-coins once Coinbase “quickly” moves forward with it plans. Coinbase historically doesn’t rest on its laurels; when they say “quickly”, it might also interpreted to mean “imminently”.
Do your own research. This is not financial advice.
Smaller exchanges must be terrified. I see merger activity being reported among lesser-tier exchanges & this is natural. Coinbase throwing the gauntlet down & listing “hundreds” of coins soon and “thousands” someday will no doubt render scores of tiny exchanges useless – if that’s not already an oxymoron. This week a Canadian exchange said all its $6 million in assets were pilfered and funds wouldn’t be restored. Coinbase will sweep up this low-hanging fruit like a vacuum.