In March, Coinbase announced it would be retiring the GDAX pro trading platform on June 29, 2018 in favor of the new Coinbase Pro. Along with the new platform, market speculators are wondering what new coins might be listed since Coinbase has expressed interest in supporting alt coins and ERC-20 tokens.
Coins usually pump right before listing on a new exchange – and Coinbase is one of the largest – so it’s no surprise that knowing ahead of time can be very profitable. Unfortunately, Coinbase is very tight lipped on the matter because of what happened in December when Bitcoin Cash was listed and the company was accused of insider trading.
Coinbase Pro & Paradex
Coinbase did announce the acquisition of Paradex around the same time as Coinbase Pro, which makes me think both events are connected. Since that time and the writing of this article, Paradex has gone offline briefly only to emerge with a slightly modified list of coins, dropping SPANK along with a few others.
For this reason, it’s very possible that the current Paradex coin offering will come to Coinbase Pro.
Coinbase says its Pro platform is geared towards institutional investors and it wasn’t too long ago that the company announced a Crypto index fund for such investors. As of now, the fund only consists of BTC, ETH, LTC, and BCH but it’s possible we could see some of the other top market cap coins added to this list.
Top 10 Coins by Market Cap not currently listed on Coinbase/GDAX
What about Coinbase?
It’s important not to get Coinbase and Coinbase Pro confused, Coinbase is geared towards users who want a convenient way to buy and sell the most popular cryptocurrencies. We will most likely see a small number of coins added to this platform, here are my picks:
- BAT – It makes sense to me that average users will need a simple way to trade earned BAT into dollars and the Coinbase app is a great option.
- REQ – For similar reasons I think REQ will be integrated into Coinbase as a way to facilitate payments from other financial services.
- XRP – Long speculated to be listed and overdue IMO.
- XLM – Low priced coins are more psychologically attractive to newer investors.
Ethereum Classic (ETC)
Earlier this month, Coinbase officially announced that they would be “adding Ethereum Classic support to Coinbase.” Within an hour, the price pumped from $13 to above $16 and at the time of this writing ETC is not on the tradable coin list.
What does “support” mean exactly? The company wasn’t very clear but it highly unlikely ETC doesn’t get listed.
If any of the coins I hold get listed I will be selling the pump and buying back once things settle to increase my stack.
As always, there is no way for me to know what is going to happen for sure. A part of me wonders if Coinbase actually releases Paradex as a separate DEX product, meaning we see little change on the main platform.
I will be keeping an eye out for more rumors and posting them here if anything changes…