Cryptocurrency

Coinbase Pro makes rates rise

Anyone who has looked in the last few days on the courses of VeChain or, for example, DigiByte, you will have noticed that these are significantly increased. In addition to the above crypto and especially the section of the DeFi Coins was able to score currencies. This includes tokens as Aave (LEND), Bancor (BNT), Compound (COMP) or Synthetix (SNX) are included. As the reason of this is the Listing of new Token on Coinbase Pro.

Let’s take a brief look at the course impact on VeChain, DigiByte and co.

VeChain, DigiByte and co – Coinbase lets courses, dancing

The Exchange Coinbase is one of the largest stock exchanges in North America. While your legal status is, especially in Germany, insecure, and enjoys the Exchange in the American region, as well as large Parts of Europe a good reputation. As before, you is one of the Big players and could already in the past, rates of crypto currencies increase.

The speech is from the so-called Coinbase effect, inspired now crypto-currencies like VeChain or DigiByte. A look at the following Chart shows that the VeChain lists the course in the Wake of the Announcement from 10.06 VET, right in the height of shot.

A similar picture we observed in the case of DigiByte. In addition to the two above-mentioned crypto-currencies could be the heading in the “Defined tokens”.

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Coinbase strengthens DeFi the back?

So positioned, the American-based Exchange over the past few months a strong image in the area Defined. In the context of the current blog post, the stock exchange announced the Listing of 9 other Defined Token. So in future it will be the crypto-currencies Aave (LEND), Bancor (BNT), Compound (COMP) or Synthetix (SNX) on the Exchange traded.

It is doubtful at this point whether Coinbase does this because it wants to strengthen DeFi the back or is it for economic reasons. The fact is that the majority of the just-mentioned tokens can be traded on decentralized Exchanges. With the recording on Coinbase could flow more volume on the platform, of which it benefits.

Do you think that VeChain, DigiByte and the group of the DeFi Coins can sustainably benefit from the Listing?

(Image Source: Shutterstock)

About the author

Eve Manning

Eve Manning

A native Texan, Eve first started out as a Finance Analyst and later realized that her true passion was not in trading but in writing. She leverages her experience in the Finance industry to analyse and write in-depth news articles covering the Cryptocurrencies, Economy & Finance industries.

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