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Ethereum

What A Coinbase Listing Could Do To ERC20 Tokens Like TRON (TRX), ICON (ICX) & EOS (EOS)

Will every ERC20 token be listed on Coinbase or just a few?

Coinbase recently announced that ERC20 tokens will be added to the exchange in the future. This potentially means that any token based on the Ethereum blockchain could be traded on Coinbase. We do however not yet know if only a few ERC20 tokens will be added or if complete ERC20 compatibility is to come. If full compatibility is being integrated, literally thousands of tokens will be tradeable on the Coinbase/GDAX exchange.

In the past, Coinbase has been hesitant about adding new cryptocurrencies to their platform which could indicate that they might not want to have thousands of tokens listed. But on the other hand, Coinbase has been getting some competition from other major cryptocurrency exchanges like Binance, which lists a ton of coins.

When Coinbase listed Bitcoin Cash, it saw an enormous surge in value as a ton of new investors suddenly could get their hands on the cryptocurrency. The same could happen to popular ERC20 tokens like TRON (TRX), ICON (ICX), VeChain (VEN) & EOS (EOS). At the moment, you have to buy them on crypto only exchanges, which is difficult for many investors who haven’t been involved in cryptocurrencies for a long time.

Being listed on Coinbase would allow a ton of people to finally get their hands on tokens they previously couldn’t because they simply didn’t know how to. But on Coinbase it’s as simple as clicking a few buttons and using your bank account or card.

The majority of all ICOs issue their tokens as an ERC20 token on the Ethereum platform, so having an easy way for outsiders to get involved in exciting projects is also an excellent opportunity for Coinbase as the demand definitely is there.

Some communities like TRON, ICON, and EOS, already have a ton of dedicated followers/fans, which always attracts outside investors. Because of this, a listing on Coinbase could indeed have a significant impact on the future price of these tokens.

 

useacoin.com is not a financial advisor and does not provide legal or financial advice. Always do your own research and invest responsibly.

 

 

 

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