Coinbase is Taking Stellar (XLM) into Consideration: XLM Up by 10% in a Single Day

Coinbase makes up for one of the most authoritative exchange platforms on the market. Precisely because of its status among the crypto community, any coin being added to the list of live trading coins on this exchange gains a flattering dose of media coverage.

This time, Coinbase has announced several coins being eligible for being added to their list of trading coins, after having been announced Ethereum Classic approximately one month ago.  In the most recent announcement made by Coinbase in their official statement on their official blog, one of the most trusted platforms announced their plan on adding more than several coins to their list of trading ICOs.

Coinbase Announces Stellar XLM: More Listings Announced

Coinbase is considered o be one of the most trusted exchange platforms on the market, and a great portion of that trust the investors are placing in this exchange is based on the fact that Coinbase makes up for one of the most positively regulated exchanges that go in favor of both, the US regulations regarding digital assets while matching the investors’ needs.

Ripple, one of the top currencies and one of the most trending global payment services, has shown interest in getting listed on Coinbase, while some sources even claimed that the Ripple foundation even offered millions of dollars in order to have XRP listed on this exchange. It was also assumed that Ripple offered Gemini exchange the same amount in order to earn a listing from XRP on this exchange as well.

Coinbase, as well as Gemini, refused the offer, stating that the listed coins first need to go through a series of regulations. However, neither Ripple foundation nor Brad Garlinghouse confirmed that they have ever offered any monetary compensation in return for getting listed on these exchanges.

One is for certain, Ripple showed interest in getting listed on Coinbase, as all toppers are listed on this exchange, while Ripple as the third-best coin is not. The absence of interest for XRP from the side of Coinbase probably has to do something with XRP waiting for the SEC to decide whether XRP makes up for a security or currency.

In the meanwhile, offering fast and secure global payments with low fees as well as its crypto peer, Ripple, Stellar (XLM) is “threatening” to become a top alternative for Ripple as believed by many crypto enthusiasts.

O course, the reason behind that belief is mirrored in the most recent case of having Stellar XLM announced to be added on Coinbase. However, Ripple is still leading the race when it comes to the integration of Ripple’s technology in major financial institutions like Western Union and Santander bank.

However, just like Ethereum Classic has seen some major improvements against the fiat since the Coinbase announcement, that is how XLM is up by almost 10% in the course of the last 24 hours with a notably larger increase when compared to the most of its peers.

Besides from announcing regulations for Stellar, Coinbase has also announced BAT, ADA, ZRX, and ZEC, while all the announced coins have shown significant improvements in the market in the last 24 hours, especially when compared to the 90% of the trading assets.

As stated by this exchange, the team behind Coinbase still has a lot of work to do before he announced coins are actually listed, however they are sharing the news in order to withhold the transparency appreciated across the crypto community.

What is Next for Stellar?

While XLM is taking advantage of the latest gains against the fiat, going up by almost 10% in the course of a single day, although Coinbase announced XLM to be listed, there will be many regulatory operations for the announced coins before the listings are marked as official.

In the meanwhile, Stellar (XLM) is promoting blockchain predictions with incentives in form of Bitcoin for XLM users with the most accurate predictions regarding FIFA Cup.

As far as the Coinbase listing concern, Stellar, unlike Ethereum Classic, will have to go through additional “exploratory work” conducted by the exchange prior to confirming the listing, as stated by Coinbase.

At the end of their official statement, Coinbase added that there will be multiple assets being announced in the near future as well, while the team is not able to determine the exact date of XLM listing while adding that the team will be regularly updating the public about the progress of regulatory operations.

For now, even though the Stellar (XLM) listing is set as “pending”, XLM seems to be already gaining momentum in the market.