Just yesterday, November 2nd, the Californian based crypto exchange of Coinbase Pro announced that it was opening deposits for Basic Attention Token (BAT) that would usher in the process of trading the ERC20 token on the platform.
As soon as the announcement was made, the value of BAT shot to the stratosphere in a matter of minutes. Many crypto-traders who had a hunch that BAT was next after Ox (ZRX) was listed back on October 12th, were rewarded for their patience. There is also a group of crypto-traders who wished they had trusted their gut and the rumors by buying BAT a few weeks back. Some have now set their eyes of Stellar (XLM), Cardano (ADA) and ZCash (ZEC).
But BAT is Not Done Just Yet
Further dissecting the announcement by Coinbase Pro, the team notified traders that BAT was yet to become available on the regular Coinbase.com trading platform and its respective Apps on Android and iOS. They promised to make a separate announcement for the listing of Basic Attention Token on the additional platforms.
The announcement clearly stated the following:
Please also note that BAT is not yet available at Coinbase.com or in our iOS and Android apps. We will make a separate announcement when that occur.
Therefore, those who had thought they had missed out on the market action, might need to look out for the second wave of BAT in the markets. This second wave up will be stimulated by the digital asset being available on the standard Coinbase.com platform and the mobile apps.
ZRX also Had A Second Wave
Going back in time and observing the listing of ZRX on the platform, it was first announced by Coinbase Pro around the 12th of October. This announcement ushered in the first wave for ZRX to thrive in the markets.
A few days later around the 16th, ZRX was now available in the other platforms of Coinbase.com and the mobile apps. This then ushered in the second wave of gains as seen in the chart below. The chart also shows the corresponding increment of trade volume during the two time periods.
In conclusion, the fact that each digital asset to be listed on Coinbase is first announced on the Pro version before other platforms, gives us ample evidence to conclude that other digital assets listed on the platform have two chances of thriving in the markets. We saw it with ZRX in October and could see it once again with BAT in November.
Disclaimer: This article is not meant to give financial advice. Any additional opinion herein is purely the author’s and does not represent the opinion of Crypto Crimson or any of its other writers. Please carry out your own research before investing in any of the numerous cryptocurrencies available. Thank you.