It’s been a big week for crypto. First, Bitcoin surged past $11,000 per coin for the first time in 15 months. Then, Ethereum followed suit, reaching a new all-time high of $485.
And now, the third-largest cryptocurrency by market cap, XRP, is up 12% in the last 24 hours to $0.47.
The question on everyone’s mind is: what’s driving this sudden surge in crypto prices?
Is it institutional money finally flowing into the space? Is it retail investors FOMO-ing back in after missing out on 2017’s bull run? Or is it something else entirely?
No one knows for sure. But one thing is certain: this latest crypto price rally has got everyone talking about Bitcoin and altcoins again.
And that includes the team at Coinbase. The popular US-based cryptocurrency exchange has been on a roll lately, adding support for new assets like ERC20 tokens and launching its much-anticipated Coinbase Pro platform.
So, will Coinbase add XYO to its platform? Let’s take a look at the evidence.
On the surface, there’s a good case to be made for XYO getting listed on Coinbase. For one, XYO is currently ranked as the 113th largest cryptocurrency by market cap, with a total value of $74 million.
That puts it well within Coinbase’s stated criteria for listing new assets, which includes being in the top 100 coins by market cap.
In addition, XYO has a strong community backing with over 30,000 members in its official Telegram group. And its social media presence is also growing steadily, with over 15,000 followers on Twitter.
From a technology standpoint, XYO is also an interesting project. It’s building a decentralized network of GPS-tracking “beacons” that can be used to verify real-world data and location information.
This could have a wide range of applications, from tracking packages to verifying online reviews.
All of this makes XYO look like a strong candidate for listing on Coinbase Pro. However, there are a few potential roadblocks that could prevent this from happening.
For one thing, Coinbase has been very cautious about adding new assets in recent months. In fact, it took almost two years for the exchange to add support for Ethereum Classic (ETC) after initially announcing its plans to do so back in 2016.
SoXYO might have to wait awhile before getting the green light from Coinbase.
Another potential issue is that XYO is not yet available on any major US-based exchanges like Binance US or Kraken. This could make it more difficult for Coinbase to justify listing XYO given its relatively small US presence compared to other coins like XRP or Ethereum Classic (ETC).
So will Coinbase add XYO to its platform? It’s possible, but there are certainly some challenges that need to be overcome first. In the meantime, XYO holders can keep their fingers crossed and hope that the team at Coinbase sees the potential in this promising project.”
It’s impossible to say for certain whether or not Coinbase will eventually list XYO on its platform. However, there are some challenges that need to be overcome first before this can happen.”.