If something sells quickly, then people tend to run after that and this is what has been the trend of late or should I say from time immemorial? Well, if we look at the picture then we can say that people run after a certain aspect or invest in a certain division only when they see it in news or hear it from someone else.
It is also true as common folks like us require some sort of affirmation that yes, this is it… it has been breaking new ground so why not focus on this at the moment? And/or adopt a wait and watch policy?! Occasionally, it may work but not every so often! Decision of an individual should not and never be made merely based on a theory instead it is in one’s interest that you carry out thorough research before trying to step in the waters.
Agreed that Coinbase, a leading United States based Digital Currency giant has listed out cryptocurrencies on its ‘Coinbase Pro’ division. However, what has to be taken a note of is the fact as to how the crypto listings move around; as in do they every time move up the ladder or is it that at times, they also go the other way round.
History may tell the Difference
To help you further in this regard, we have put across various examples for you to view and ponder over before making a final call.
Let us have a close look at the way BAT or Basic Attention Token has been listed on Coinbase: -
It was way back in the month of July that Coinbase had first announced its intention of bringing BAT aka Basic Attention Token on board. When this announcement went live, and particularly on the 14th of July, there was an uproar of sorts wherein BAT gained 30% on news!
This was also probably the first time that a ‘fiat to crypto’ exchange had seen such a rise in a short span of time. On the other hand, Coinbase made it very clear on its social handle that there is nothing to guarantee as to what would be the future of any listing of a particular token on its exchange.
Besides, there are many listings in Coinbase that do not have complete support from their side, it can be either partial support or there may be some cases wherein assets become available in various countries before coming to the United States! In fact, there are also chances that under specific jurisdictions, Coinbase lists tokens!
Make a Note
While for BAT, there were days that it fell 70% from being at its peak somewhere on the 24 July and 12 September respectively, however, it rose by 30% post an announcement by Coinbase. As per reports, Coinbase okayed for BAT Tokens deposits in its listings (on 8 November). It was therefore about time for BAT to see a change, but when trading was enabled, their tokens went down by 35% approximately while it was at its peak on Thursday.
It is yet to see what would happen next but remember that anything can change at any given moment of time. As per few people, it is best to look out for the term ‘exploring’ on Coinbase before making a final decision!