A leading crypto analyst is predicting US-based digital asset exchange Coinbase may be getting ready to list five altcoins on its platform.
In a new video, Coin Bureau host Guy tells his 881,000 YouTube subscribers he believes projects that the crypto exchange have invested in, through its investment arm Coinbase Ventures, have a strong chance of getting listed.
“[Coinbase Ventures] have invested in a number of different startups and projects. About half of these have their own native coins and tokens. Some of these projects have already listed their tokens on Coinbase. These include the likes of Compound (COMP), UMA, Synthetix (SNX), Celo, Polygon (MATIC), and The Graph protocol (GRT).”
According to Guy, Coinbase Ventures have also invested in other projects that have their own coins including governance token Reserve Rights Token (RSR), developer-friendly protocol Near, decentralized audio streaming service Audius (AUDIO), and on-chain liquidity provider DODO exchange (DODO).
The crypto influencer also tells his subscribers to be on the lookout for crypto assets that are being supported by the crypto exchange’s custodial arm, Coinbase Custody.
“Why is this important for project listings? If Coinbase has already got the infrastructure required to securely store, deposit, and withdraw the coins and tokens in question, then that is half the battle. It’s a lot easier for Coinbase to list these tokens because all that’s really needed on top of this is to integrate the wallet architecture with the exchange engine or UI (user interface).
There were also a number of other projects that were first listed on Coinbase Custody before they made their way onto the exchange. These include the likes of Synthetix, Filecoin (FIL), and more recently, SushiSwap (SUSHI) to name but a few.”
Guy highlights that while Coinbase Custody supports dozens of coins, not all of them are listed on the exchange. He notes that these include Reserve Rights, decentralized derivatives exchange Injective Protocol (INJ), and risk tokenizing protocol Barnbridge (BOND).
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