It’s been a big week for Coinbase. The San Francisco-based cryptocurrency exchange announced that it is exploring the addition of five new digital assets to its platform, including the popular altcoin Cardano (ADA).
This news sent the price of ADA soaring, with the coin rising over 20% in the 24 hours following the announcement.
Now, all eyes are on Kin (KIN), the native token of the social media platform Kik. Could Kin be next to be added to Coinbase? Let’s take a look at the possibility.
First, a bit of background. Kik is a social media messaging app that was founded in 2009.
The app has been incredibly popular, especially with young people, and it now has over 15 million monthly active users.
In 2017, Kik launched an Initial Coin Offering (ICO) to raise funds to develop a new blockchain platform called Kin. The ICO was a success, raising over $100 million.
The Kin token is used on the Kik platform to power a number of different features and services. For example, users can earn Kin by participating in surveys or watching ads.
They can then spend their Kin on things like stickers, gifs, and other digital goods.
So far,Kin has been listed on a handful of cryptocurrency exchanges, including Binance and Upbit. But Coinbase would obviously be a much bigger get for the project.
So, will Coinbase list Kin? It’s certainly possible. The exchange has been known to list assets that are fairly new and not yet widely available on other exchanges.
For example, Coinbase was one of the first exchanges to list Ethereum Classic (ETC) back in 2016. And more recently, it listed Basic Attention Token (BAT) earlier this year.
Coinbase also tends to list assets that have a strong community backing them. And there’s no doubt that Kin has a passionate community supporting it.
In fact, Kik recently held a “Kin Summit” in New York City to promote the use of Kin within the app and to get feedback from developers about how to improve the token’s ecosystem.
So there’s definitely a possibility that Coinbase could list Kin in the future. However, there’s no guarantee that it will happen anytime soon.
For now, we’ll just have to wait and see what Coinbase decides to do next.”.
It is possible that Coinbase could list Kin in the future but there is no guarantee that it will happen anytime soon.