This is a question that many in the cryptocurrency community have been asking since the project was announced. While there is no official word from Coinbase on the matter, all signs point to the answer being a resounding “no.”
Here’s a look at why Coinbase is unlikely to list Mononoke Inu, and what this could mean for the future of the altcoin.
What is Mononoke Inu
Mononoke Inu is a new decentralized cryptocurrency that aims to provide users with Private, Fast, and Decentralized transactions. The project is being developed by a team of experienced Japanese blockchain developers and is currently in its testnet phase.
While Mononoke Inu may have some features that make it attractive to users, it’s important to remember that Coinbase is first and foremost a business. And as a business, Coinbase has to consider what’s in its best interests when making decisions about which cryptocurrencies to list on its exchange.
With that said, let’s take a look at some of the reasons why Coinbase is unlikely to list Mononoke Inu.
1. Lack of liquidity
One of the main reasons why Coinbase is unlikely to list Mononoke Inu is because of the lack of liquidity in the market. Liquidity refers to the ease with which an asset can be bought or sold without affecting the price.
Cryptocurrencies with low liquidity are often difficult to trade and can be subject to large price swings. This makes them risky for both businesses and individual investors.
As a business, Coinbase has to be mindful of the risks associated with listing assets with low liquidity. Listing an asset with low liquidity could lead to trading problems and customer dissatisfaction.
And in a highly competitive industry like cryptocurrency exchanges, customer satisfaction is key.
2. Lack of name recognition
Another reason why Coinbase is unlikely to list Mononoke Inu is because the project doesn’t have much name recognition at this point. While Mononoke Inu may have a strong team and an interesting roadmap, it’s still relatively unknown in the wider cryptocurrency community.
This lack of name recognition makes it harder for potential investors to find information about the project, which could lead them to invest in other projects instead. And since one of Coinbase’s main goals is to make money, it’s unlikely that they would want to list an asset that isn’t well-known among potential investors.