Strong commitment to market transparency, Coinbase aims to reveal a list of over 50 tokens that could be accepted in Q2 of this year.
On Tuesday, April 12, the largest crypto exchange in the United States, Coinbase, aimed to reveal a large list of eligible tokens eligible for Q2 2022 registration for the second quarter of 2022 as an effort to increase. transparency for the organization which of course One of those tokens It consists of 45 ERC-20 coins on the Ethereum network and SPL tokens on the Solana network, as well as Binance USD (BUSD), which is ranked as the 3rd largest stablecoin on the market and is also one of the largest stablecoins on the market. Biggest BitDAO (BIT) with a market capitalization of more than $1 billion at the time as well.
The main purpose of Coinbase is to list the tokens on the platform.
The popular exchange has explained its intentions to promote equality of market access (Information Symmetry) with efficiency. And as fair to the market as possible, Coinbase also tries to minimize the chance of crashes. Pump-and-Dump, or price manipulation where the targeter intends to drive the price of an asset higher by co-purposing the asset at the same time to make a profit. As can be seen in 2020, the OMG network was profitable after being listed on the Coinbase platform just 15 minutes, surging up to 200% before falling heavily later.
However, this approach remains a novelty for both centralized and decentralized exchanges, and Coinbase will also gain a share of the initiative.
Coinbase Wants to Incentive Investors
The project also aims to attract more people to Coinbase’s registration, another interesting token previously known as the Big Data Protocol. A small decentralized finance (DeFi) system with a market cap of $3.3 million has posted a celebration on Twitter. Coinbase is considering registering its tokens.
Some investors are disappointed with Coinbase’s actions.
On the other hand, while increasing corporate transparency may benefit investors, and various projects, but one of the famous crypto traders on Twitter like 12yearoldwithcc Instead, the list of eligible tokens to be considered for support on the platform is lacking in incentives. He posted his comments on the incident saying.
“Coinbase is in a very disappointing era.”
Crypto Markets More Interested in BAYC Movies Coinbase Plans to Make
Although Coinbase’s transparency initiatives may not be as attractive to investors as they should be. But there are still many players who are focusing on the platform’s commitment to creating another new project. This is to produce a total of three films related to the Bored Ape Yacht Club (BAYC) Non-Fungible Token (NFT) collection.
Coinbase is offering BAYC holders the right to use the NFT in their movies for $10,000, which is confusing to some. As a result, a group of people have warned their community members not to agree to the proposal.
Coinbase Big Obstacle
Over time, Coinbase has faced many turbulences. Especially after the company decided to officially launch its first crypto trading service in India on Friday, April 15, but the company had to abruptly suspend the trading service. Due to the position of the financial regulators in the country that still does not accept such payment systems It also released a statement on Monday, April 11, while Indians themselves are accustomed to the hassle. Crypto India channel co-founder Aditya Singh tweeted:
“This is not new. Because exchanges in India have been facing problems with payment systems for a long time since 2018.”