Who’s Next For Coinbase, Qtum (QTUM), 0x (ZRX) Or Nano (NANO)?
Update: October 22, 2018 –Coinbase has added 0x (ZRX) to Coinbase and Coinbase Pro
Ever since the listing of BCH on Coinbase, crypto-communities of various coins have engaged in speculation of which might be the next one.
Getting added to the premier exchange is considered one of the last steps toward global visibility. It usually also accounts for many of the new investors who find it easy to get into crypto trading.
Coinbase previously announced that it had plans to add ERC20 tokens. The announcement came after it released a framework on the process of getting assets listed on the site, following requests by customers for more to be added. The site said in March that its team was considering a number of assets but asserted that:
“Coinbase will only list assets after they are listed on GDAX. After evaluating factors such as liquidity, price stability, and other market health metrics, we may choose to add any ERC20 asset added to GDAX to the Coinbase platform.”
It’s a couple of months since and speculation is again spiraling. Only four assets in BTC, ETH, LTC, and BCH are listed on Coinbase at the moment. But which of these three assets- Qtum, 0x, Nano- could make that surprise entry onto the site? Let’s briefly assess each of them.
As far as projects go, it perhaps has the strongest chance, but that doesn’t mean that it’s automatic. Other than being one of the ERC-20 based products, Qtum is a platform that has unique space within cryptocurrency.
It’s one of the most decentralized platforms, meeting one of the many requirements for listing.
Apart from that, Qtum may be about to gain a lot of traction due to its recent partnership with Pundi X, putting it on 4,000+ PoS devices around the globe. This aspect helps make Qtum a project that is already in the market, discounting it from the many scams that Coinbase is wary of in ERC-20 tokens.
Another reason that could work for it is its membership in the Trust Alliance group. This alliance brings together a host of industry players whose aim is to enhance development. Many of the corporations in the alliance are moving towards utilizing the Qtum platform, leading to the possibility of more adoption.
Given that it’s already listed on a number of other major exchanges, and doesn’t fall foul of regulations, Qtum could be the next coin on Coinbase.
It’s yet another interesting option for Coinbase to consider listing. One of the factors that make Nano a perfect fit for listing is its appeal that moved major industry players- including Charlie Lee.
He commented on the coin’s great nature and intimated that it could be added in maybe “two years’ time”. it could mean that Lee didn’t think the coin could be added any time soon; or that he was aware of something and didn’t want to fall into a trap.
It offers an option that isn’t part of the threat for the site in terms of regulatory risks. It’s one of the most passionately supported coins, with the development getting plaudits when they had its wallet fixed.
There’s also a high chance the coin will have an upper hand due to unique block lattice architecture. As it is, Coinbase has listed four currencies and among the others out there, Nano is a very good prospect. Not only could it offer a lot of trading volumes, but it’s one that offers some of the kind of hedge against blockchain-based counterparts.
The first hurdle for this platform is cleared as it passes Coinbase’s Digital Asset Framework guidelines. This is important as it means it can be added to the GDAX from where it could go to Coinbase.
There’s also the possibility past links could play a role here. It’s not much to count on, but some of 0x’s advisors have links to the trading site. They include Fred Ehrsam, Coinbase co-founder; and two other former employees Olaf Carlson-Wee and Lina Xie.
There has been speculation that the crypto could have established a lot of negotiation already. Though not confirmed, another development fueling thoughts that ZRX could be on Coinbase relates to a tweet.
The exchange is partnering an SEC-regulated broker to launch Coinbase Custody. It appears that 3 of the partners are all invested in 0x and are now working with Coinbase. These are Multicoin Capital, Polychain Capital, and Scalar Capital.
While these developments don’t mean anything certain, they point out that it’s possible. The only disadvantage that may work against 0x is its blockchain solution that is tailored to make centralized exchanges a thing of the past.
Conclusion: Whether Coinbase adds any of these coins or not, is a matter of ‘time will tell.’ For now, the coins must continue to show that they fulfill the Digital Asset Framework guidelines to stand a chance.