Marios Athinodorou
Independent Analyst
Based on the latest report the major fail in the crypto market had some serious drawback for the Coinbase App.
Coinbase CEO and founder Brian Armstrong is not disappointed and stated
“After many years of this, I’ve come to enjoy the down cycles in crypto prices more. It gets rid of the people who are in it for the wrong reasons, and it gives us an opportunity to keep making progress while everyone else gets distracted,” Armstrong posted. “We use the down cycles to build a strong foundation so we can thrive in the next growth cycle.”
Also, the cryptocurrency has been disappointing this past year. But Coinbase is still expanding its business with new services and working towards to bring institutional customers in the cryptosystem by creating the infrastructure to accept them in.
Before 2 months ago the company announced four new institutional products and they went live the past month.
Now the crypto trading giant wishes to adopt five new cryptocurrencies in its platform Zcash (ZEC), Cardano (ADA), Stellar Lumens (XLM), 0x (ZRX)and Basic Attention Token (BAT).
Coinbase also in June announced that is going to include in its list the Ethereum Classic (ETC).
Ethereum Classic has a similar structure to the original Ethereum (ETH) and it will be available for trading soon.
Having said that, the Crypto Giant stated that even adding these currencies it will require even more intense research by them due to the fact that most of them have different architecture.
The downside of that will be the probable delay of the coin's release.
Now in other news, we can say that the Bitcoin looks bearish but based on the Coin Analyst platform the bitcoin sentiment for the last four weeks has been positive.
The same with Ichimoku system, if we examine its components we can see that we have an early Kumo breakout and we wait for the chikou span to come out of the cloud to confirm the signal.
Coin Analyst Sentiment
Tool BTCUSD 1H Timeframe
Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer. Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
Recommended Content
Editors’ Picks
Solana price sustains recovery rally despite falling daily active addresses
Solana price shows strong bullish momentum, which has seen the Ethereum killer break out from a descending parallel channel. Strangely, the daily active addresses on-chain metric fails to mirror this optimism, which is unorthodox considering the two parameters conventionally to go hand in hand.
ImmutableX price rallies by 40% in 24 hours, but whale activity remains weak
ImmutableX price rise astonished the market as the altcoin led the crypto market rally on Tuesday. The altcoin hit a 45-day high and, managed to flip many of the resistance levels into support floors. The reason behind the rally is unknown, but the whales seem to be active once again.
US House Committee passes bill to prevent issuance of CBDC
The United States is a landmine of regulatory trouble for the crypto space, but the technology behind it was being pursued for adoption. However, the application of this technology is also being objected to by many, attempting to end things before they even begin.
Optimism price outlook as network sells 116 million OP tokens
Optimism network has revealed plans to start selling 116 million OP tokens in a private sale immediately. At current rates, these tokens are valued at approximately $162.4 million but the transfer is not expected to impact market price.
Bitcoin: BTC contemplates crash in September
Bitcoin price remains unfazed by the US CPI announcement on September 13 and continues to move in a range. The weekly chart, however, shows a potential short-term recovery rally that could set the stage for a steep correction.