On the 13th of July, Coinbase announced that they were considering 5 cryptos for listing. The 5 were Cardano (ADA), 0X, Stellar (XLM), ZCash and Basic attention token (BAT). As per their blog post at the time, these cryptos were only under consideration and were not guaranteed of listing. Here is what Coinbase said at the time.
“Unlike the ongoing process of adding Ethereum Classic, which is technically very similar to Ethereum, these assets will require additional exploratory work and we cannot guarantee they will be listed for trading. Furthermore, our listing process may result in some of these assets being listed solely for customers to buy and sell, without the ability to send or receive using a local wallet. We may also only enable certain ways to interact with these assets through our site, such as supporting only deposits and withdrawals from transparent Zcash addresses. Finally, some of these assets may be offered in other jurisdictions prior to being listed in the US.”
However, from the steps that Coinbase has taken so far, there is a high probability that it could be listing all 5 of them. So far it has listed 0X and Basic Attention Token (BAT). If this sequence continues, then Cardano (ADA), Stellar (XLM) and Zcash could be listed too.
For Cardano (ADA), chances are that Coinbase could list it in Q2 of 2019. That’s because part of what Coinbase looks for in cryptos is decentralization. Cardano has made significant steps towards the Shelley release, which is basically the decentralization of the Cardano blockchain. According to Duncan, the head of engineering at IOHK, they expect to release Shelley by the end of Q1 of 2019. This could be the trigger that Coinbase is waiting for before they can list Cardano (ADA). However, that’s not to say that they can’t list it earlier. Cardano has a live roadmap, which in itself proves that Cardano is moving quite well towards achieving this goal.
If Coinbase decides to list Cardano (ADA) within Q2 of 2019, the price of this crypto could surge by a huge margin, probably bigger than it did in 2017. One of the reasons why it could pump is because Coinbase has proven time and again to have an impact on prices upon listing. All the coins that have listed on Coinbase have pumped. The latest one, BAT, is up by over 14% in a day when the market is still trading sideways. For a coin like Cardano (ADA), which is way bigger than BAT and 0x, the pump could be much bigger.
Besides, the release of Shelley is significant news for Cardano even without Coinbase. It is widely expected that once Shelley is released, Cardano (ADA) could pump by a huge margin. As such, if this news coincides with a listing on Coinbase, the value of this coin could blow past the all-time highs of 2017.
While this is big news, all Cardano investors can do is wait. One thing is certain though, Cardano’s prospects in the market are getting better, and it could be a worthy hold in the long-haul.