The US-based cryptocurrency exchange Coinbase is now exploring the addition of 18 new digital assets, announced the company on June 11.
“Coinbase’s goal is to offer support for all assets that meet our technical standards and which comply with applicable laws,” said the exchange.
The latest list of digital currencies Coinbase is exploring involves small-cap cryptocurrencies which include some known names like Ren and VeChain but also involve the likes of Livepeer and NyCypher that are way down the list.
The idea behind this is to provide the customers’ access to “at least 90% of the aggregate market cap of all digital assets in circulation” said the controversial exchange.
Cryptocurrencies in consideration are Aave, Aragon, Arweave, Bancor, COMP, DigiByte, Horizen, Livepeer, NuCypher, Numeraire, KEEP Network, Origin Protocol, Ren, Render Network, Siacoin*, SKALE Network, Synthetix, and VeChain.
However, the market is not happy with this latest announcement as one Twitter user Crypto Whale said, “That moment when everyone leaves your exchange, so you finally add new coins in an attempt to bring them back…..I think its a bit late now…”
Over the weekend, Coinbase was strongly condemned by the Crypto Community after it came out that they have been dealing with the US government to sell its blockchain surveillance software.
While some argued these digital currencies are just “more securities” others poked a question at its evaluation system that assesses factors like security and compliance of a digital asset and the project’s alignment with Coinbase’s mission of “creating an open financial system for the world.”
“Digital Asset Framework is a very fitting name for a DAFt company like yours,” said another Twitter user.
Lately, “Coinbase Effect” has also come back into the market. As we reported, last month OmiseGo and Maker both pumped nearly 40% immediately after the exchange announced the listing.
coinbase? more like vc dump on you base send tweet
— moon (@MoonOverlord) June 10, 2020
The new listings would only provide more chances to pump and dump these small-cap cryptos that are already easy to do so given their low liquidity.