It’s no secret that the crypto world is eagerly awaiting the addition of new assets to leading US-based exchanges Coinbase and GDAX. Recently, there has been much speculation as to which coins will be added next.
While nothing has been confirmed by the exchanges themselves, many believe that ICON (ICX) could be on the shortlist. Here’s a look at why ICX could be added to Coinbase, and what impact it could have on the coin’s price.
ICON is a South Korean based project that aims to “hyperconnect” the world by building one of the largest decentralized networks in existence. The platform allows for different blockchains to interact with one another through the use of smart contracts, and also features its own native coin, ICX.
ICX is currently ranked 27th on CoinMarketCap with a market cap of $1.4 billion.
One of the main reasons why ICX could be added to Coinbase is due to its strong fundamentals. The project has a very active development team that is constantly releasing new updates and features.
Additionally, ICON has partnerships with some major companies including Samsung, Wanchain, and Line Corp. These partnerships could help increase adoption of the platform, and in turn, drive up demand for ICX.
Another reason why ICX could be added to Coinbase is its listing on Binance, currently the world’s largest cryptocurrency exchange by trading volume. Binance recently announced that it will be adding ICX to its list of supported coins, which could lead to more exposure for the coin.
If Coinbase sees that Binance is listing a particular coin, it may view it as being more credible and decide to list it as well.
Lastly, ICX could benefit from being listed on Coinbase due to the simple fact that more people would have access to it. Currently, only a small portion of the population is able to invest in cryptocurrencies due to limited accessibility.
However, if Coinbase were to list ICX (and other coins), it would make investing in cryptocurrencies much easier for people around the world. This could lead to a large influx of new investors and an increase in demand for ICX.
All in all, there are many reasons why ICX could be added to Coinbase in the near future. The coin has strong fundamentals, good exposure, and listing on Binance could all play a role in increasing its chances of being added.
If Coinbase does decide to list ICX, we expect there to be a significant price increase as more people gain access to the coin.