Coinbase Pro Adds ETH-Based Quartet; Golem (GNT), Dai (DAI), Maker (MKR) and Zilliqa (ZIL)
Published Greg Thomson
Coinbase Pro extended its run of listing Ethereum-based tokens on Tuesday, when it announced the addition of Golem (GNT), Dai (DAI), Maker (MKR) and Zilliqa (ZIL).
The exchange recently released a list of more than thirty coins and tokens that it had signalled for immediate attention. After the listing of four ERC-20 tokens last week , and the four mentioned above, the list has now has twenty-three coins remaining. Coinbase Lists ERC-20 Tokens
According to Tuesday’s tweet from the Coinbase Pro team:
Inbound transfers for DAI, GNT, MKR, and ZIL are now available in the regions where trading is supported. Traders cannot yet place orders and no orders will be filled. Order books will be in transfer-only mode for a minimum of 12 hours.
Depending on where you’re based, you may not have full access to the complete range of services. The four tokens have been split into two different jurisdictions, as per the Coinbase Pro blog post :
Support for GNT and DAI will initially be available for Coinbase Pro users in the US (excluding NY), the UK, EU, Canada, Singapore and Australia.
MKR and ZIL will not be available to customers in the US, but will be tradable in the UK, EU, Canada, Singapore and Australia on Coinbase Pro.
Dai is a dollar-pegged stablecoin which is backed by the funds of Maker token holders. The fact that Coinbase has found reason to separate two tokens which are part of the same ecosystem suggests the legal hoops they’re being forced to jump through are complex. Utility or Coinbase Roulette?
Coinbase reminded everyone that the utility and functions of these assets would be lost if left on the Coinbase cold wallet:
“ Each of these tokens has associated functionality, some of which may be in beta.
Moreover, each token’s associated functionality is not currently directly accessible via the Coinbase Pro platform.”
Some social media users questioned the function of these tokens, however, and one also questioned Coinbase’s motivations in listing them:
“@CoinbasePro lists 4 more random ERC20 coins. – Because it’s easy to add more ERC20 coins – Because in 2017 consumers wanted more coins – NOT because there’s huge demand for these particular coins Do you ever recall seeing a community coin poll at Coinbase? Binance runs them…”
Just another disgruntled bag-holder, or does he have a point? Price Movement
All tokens mentioned were on the rise along with the rest of the market before the Coinbase announcement dropped, but news of the listings kicked the surge into second gear.
Zilliqa was the strongest performer out of the four, climbing 14% from a token price of $0.013988 up to $0.015963.
Maker gained just over 12% on its value, moving from $367 up to the $414 range. Golem climbed 11.9%, only days after hitting an all-time low following a 95.5% decline. Dai remained somewhat stable, although has been above its dollar peg for the last few days, falling from $1.07 to $1.
02 in the last twenty-four hours.
Disclaimer: The author owns bitcoin, Ethereum and other cryptocurrencies. He holds investment positions in the coins, but does not engage in short-term or day-trading.
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You must be logged in to post a comment Login Leave a Reply Alt-Season Is Go? Waves, Stratis and MonaCoin Hit 50-70% Growth in One Day
Published Greg Thomson
While the Bitcoin price climbed to within flirting distance of $4,000 on Wednesday, it was the altcoin market which experienced the bulk of the gains.
Waves (WAVES), Stratis (STRAT) and MonaCoin (MONA) all hit between 52% and 72% growth during the twenty-four hour period leading into Wednesday.
Like many major and minor alts, coin growth was beyond the rate of the broader crypto market, which grew 24% in the same period. Waves Price – WAVES/USD
From the twenty-four hour low of $2.99, the WAVES coin valuation climbed 52% in value, up to a dollar price of $4.57. This compounds weekly growth of 145%, and a ridiculous 396% growth since Waves hit an eighteen-month low back in late November.
To give an idea of the turnaround, trade volumes jumped 5,580% from November into December, with $142 million worth of Waves changing hands today alone.
That’s up from just $2.
5 million a few weeks ago, and is the highest daily volume seen by Waves since the month-long altcoin pump of last April.
Waves has been on the hype train for the last few weeks, releasing an all-in-one mobile wallet app , and building anticipation for the much talked about Vostock ICO – which got underway recently.
Waves holders stand to share in 3% of the Vostock coins via airdrop, and many investors may be trying to maximize their Vostock holdings by accumulating Waves. Stratis Price – STRAT/USD
STRAT coins outperformed even Waves in the last twenty-four hours, gaining over 63% on its value since last night’s low of $0.753439. By Wednesday afternoon the dollar value of STRAT had climbed to $1.23 – a new monthly high, and one which clears losses taken by Stratis in November.
Trade volumes are up 2,602% in the last few days, rising from $700,000 up to the $20 million recorded on Wednesday. BTC and KRW trades took up over 90% of the total volume, with Binance’s STRAT/BTC market taking up more than 50% alone. MonaCoin Price – MONA/USD
The little known alt, MonaCoin, has been around since 2013. On Wednesday the coin stuck its head into the market cap top hundred with a 72% growth surge.
That took the MONA dollar price from $0.505580 up to $0.874494 – all within less than a day.
Trade volumes were up 700% for the day as MONA changed hands predominantly with Japanese yen (JPY).
In fact, in a rare occurence of Japan-centric trading, over 92% of daily trades came from the MONA/JPY pair on the Bitbank exchange.
Overall volumes are up 8,321% since Monday, but the $16 million worth of MONA traded on Wednesday is still some way off the all-time high up in the $140 million range.
Disclaimer: The author owns bitcoin, Ethereum and other cryptocurrencies. He holds investment positions in the coins, but does not engage in short-term or day-trading.
Featured image courtesy of Shutterstock. Important: Never invest (trade with) money you can’t afford to comfortably lose.
Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here . Trade recommendations and analysis are written by our analysts which might have different opinions. Read my 6 Golden Steps to Financial Freedom here . Best regards, Jonas Borchgrevink. Rate this post: Important for improving the service. Please add a comment in the comment field below explaining what you rated and why you gave it that rate.
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Loading… Crypto Markets Have Recovered $26 Billion Since Saturday
Published Sam Bourgi
Have the crypto markets finally bottomed? Price behavior over the past two days seems to show a major shift in momentum among the majors, catalyzed by double-digit gains in bitcoin and major technical breakouts for the likes of XRP, Ethereum and bitcoin cash. Markets Eye Recovery
After barely defending the $100 billion plateau on Saturday, the cryptocurrency market capitalization has gained a swift $26 billion, with the bulk of the rally occurring in the last two days. The uptrend was kick started by bitcoin’s double-digit rally on the anniversary of its $20,000 bull run .
At the time of writing, every coin in the top-20 had reported gains compared with Tuesday.
Bitcoin cash was by far the best performer, adding a swift 33% to reach $121.03. BCH had experienced a brutal selloff in the wake of the Nov.
15 hard fork, dragging prices to depths never before seen in the currency’s history. (For the backstory, read: Crypto Selloff Deepens as Bitcoin Cash Hard Fork Proves More Costly Than Ever Predicted .
)
Bitcoin SV, which emerged from the hard fork as a major player in the cryptocurrency market, also traded in a positive direction on Wednesday. BSV shot up 16.1% to $91.50.
XRP rose 14% to $0.3823, where it overcame a vital resistance , setting the stage for an even bigger short-term rally.
The same could be said about Tron, which gained 15.4% to $0.0166. TRX has gained some 30% over the past five sessions and is currently eyeing resistance at a recent double-top formation.
Ethereum was back above $100 on Wednesday; price climbed 10.4% to $105.51. Stellar XLM rose 10.
6% to $0.1215.
The rally was accompanied by a large upswing in daily trading volumes. Turnover on digital currency exchanges topped $21 billion, a virtual doubling of weekend trading levels.
VanEck Exec Outraged Over Lack of Bitcoin ETF
One of the biggest debates in the crypto community returned to the spotlight recently after a VanEck executive described his outrage over the lack of bitcoin trading options. Gabor Gurbacs, the outspoken director of digital assets at VanEck, is dismayed at the double standards applied by the U.S. Securities and Exchange Commission (SEC) with respect to bitcoin ETFs.
CCN recently uncovered this gem of a tweet from Gurbacs dating back to Dec. 7: “Coinbase shitcoins OK for millions of retail investors. Bitcoin ETF for institutional investors too crazy.
What f*ing parallel universe is this?”
Of course, Gurbacs is referring to the proliferation of altcoin and token trading on Coinbase, America’s premier digital currency venue. Coinbase has been cleared to list several ERC-20 tokens at a time when the SEC was still giving the cold shoulder to fund managers trying to securitize bitcoin. The regulator recently delayed its ruling on the VanEck SolidX Bitcoin Fund until late February. It has already struck down dozens of other ETF applications.
The ETF debate will heat up next year as markets await the SEC’s decision.
Another ruling against VanEck and its partners may further deflate investor sentiment at a time when markets are looking for greater regulatory certainty around crypto investments.
Disclaimer: The author owns bitcoin, Ethereum and other cryptocurrencies. He holds investment positions in the coins, but does not engage in short-term or day-trading.
Featured image courtesy of Shutterstock.
Important: Never invest (trade with) money you can’t afford to comfortably lose. Always do your own research and due diligence before placing a trade.
Read our Terms & Conditions here . Trade recommendations and analysis are written by our analysts which might have different opinions.
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Loading… Sam Bourgi 4.6 stars on average, based on 704 rated posts Sam Bourgi is Chief Editor to Hacked.com, where he leads content development for one of the world’s foremost cryptocurrency resources. Over the past eight years Sam has authored more than 10,000 articles and over 40 whitepapers in the fields of labor market economics, emerging technologies, cryptocurrency and traditional finance.
Sam’s work has been featured in and cited by some of the world’s leading newscasts, including Barron’s, CBOE and Forbes. Contact: [email protected] Twitter: @hsbourgi Crypto Update: Majors Confirm Short-Term Trend Change
Published Mate Cser
The encouraging rally in the cryptocurrency segment continued in earnest in the past 24 hours, and several top coins topped key resistance levels after forming higher swing lows, confirming a short-term trend change. While the broad rally lifted all of the majors, and the deeply oversold long-term momentum readings together with the horrible sentiment will likely lead to a tradable larger scale bounce, the long-term bearish picture is unchanged in the segment.
For that to change, we would need to see at least a higher low on the long-term charts, but for now, bear market rules remain in place for the top coins.
We will take a closer look at the long-term outlook later on today in our long-term cryptocurrency analysis . For now, traders could enter long positions on the relatively stronger coins, but from a broader perspective, at least a retest of the lows remains likely. BTC/USD, 4-Hour Chart Analysis
Bitcoin pushed above the key $3600 yesterday in late trading, triggering a short-term buy signal in our trend model. While the long-term sell signal remains clearly in place, the most valuable coin could rally as high as the $4450 swing high in the coming weeks, boosted by the negative sentiment and the oversold momentum readings.
That said, November’s key technical breakdown is clearly intact, and the bearish long-term trend is in no danger for now.
Primary resistance is ahead between $4000 and $4050, while above $4450 the next zone of interest is found between $5000 and $5050 and further support is at $3250 and $3000. ETH/USD, 4-Hour Chart Analysis
Ethereum also managed to get back above the crucial $95-$100 resistance zone together with the broader market, triggering a short-term buy signal in our trend model. The rally could extend to the resistance zones near $120 and $130 in the coming weeks, and traders could now enter short-term trades on pullbacks, despite the still intact long-term downtrend. Further strong resistance is ahead near $160, while support is found near $80 and between $73 and $75. Broad Rally in Altcoins as Coins Gain 30% on Average LTC/USD, 4-Hour Chart Analysis
The strong oversold rally carried all of the major altcoins higher as well, and on a positive note, the early leaders of the counter-trend move continue to be strong, raising the odds of a more sustained move on the upside.
Litecoin has been one of the strongest coins so far during the current move, and together with Ripple, they triggered buy signals before the rest of the market.
LTC is trading near the key $30-$30.50 support/resistance zone, and although even a pullback to $26 is in the cards, traders could enter long positions, with targets ahead at $34.50 and $38 level. XRP/USDT, 4-Hour Chart Analysis
Ripple also formed a short-term swing low and confirmed the breakout yesterday, and today, recaptured the $0.
3750 level, while becoming overbought from a short-term perspective. That said, a test of the $0.
42-$0.46 zone could be ahead, even as the long-term sell single remains in place and odds still favor a retest of the lows following the counter-trend move. Support is now found near $0.3550 and $0.32, while further resistance is ahead near $0.51.
IOTA/USDT, 4-Hour Chart Analysis
While the broad-based move lifted all of the majors and most of the smaller coins as well, the currencies in the strongest downtrends, such as IOTA, DASH, NEO , Monero, ETC, and Stellar are still vulnerable despite the lofty short-term gains.
With that in mind, even as speculative long positions could be opened in the battered coins, strict risk management rules should be used, with sharp selloff likely being ahead in the coming weeks.
Featured image from Shutterstock
Disclaimer: The analyst owns cryptocurrencies. He holds investment positions in the coins, but doesn’t engage in short-term or day-trading, nor does he hold short positions on any of the coins. Important: Never invest (trade with) money you can’t afford to comfortably lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here . Trade recommendations and analysis are written by our analysts which might have different opinions.
Read my 6 Golden Steps to Financial Freedom here . Best regards, Jonas Borchgrevink. Rate this post: Important for improving the service. Please add a comment in the comment field below explaining what you rated and why you gave it that rate.
Failed Trade Recommendations should not be rated as that is considered a failure either way. ( 2 votes, average: 5.
00 out of 5 ) You need to be a registered member to rate this. Loading… Mate Cser 4.7 stars on average, based on 422 rated posts Trader and financial analyst, with 10 years of experience in the field. An expert in technical analysis and risk management, but also an avid practitioner of value investment and passive strategies, with a passion towards anything that is connected to the market..
