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Decrypto Daily Update – July 14, 2018

July 14, 2018

Market Snapshot

Total Market Cap: $248,699,757,825
24 Hour Volume: $10,759,637,562
BTC Dominance: 43.2%
BTC-O: $6,235.03
BTC-H: $6,310.55
BTC-L: $6,192.24
BTC-C: $6,238.05

Coinbase is exploring Cardano, Basic Attention Token, Stellar Lumens, Zcash, and 0x.

In a post on their official blog, Coinbase revealed they are currently looking into adding ADA, BAT, XLM, ZEC, and ZRX to their list of supported digital assets. Coinbase is also working on implementing ETC at the moment.

  • Back in March, Coinbase announced their intention to support the ERC-20 token standard, which led to many speculations about future ERC-20 token listings. Many expected ZRX, the network utility token for 0x’s Ethereum-based decentralized exchange, would be one of the first ERC-20 Coinbase listings following a tweet from Brian Armstrong last August. It looks like that’s exactly what happened – ZRX made the list.
  • Interestingly enough, ZRX and BAT are the only two ERC-20 tokens on the list. All the other tokens will require specialized implementation of their respective blockchains.
  • The diversification of this initial token list from Coinbase shows how much thought the team put into the process of compiling it. Cardano is one of the leading smart contract platforms in the world. Stellar Lumens is focusing on cross-border payments and is also developing a DEX that uses the XLM token as a liquidity source. 0x is a building an open protocol for trading ERC-20 tokens, and I wouldn’t be surprised to see a Coinbase ERC-20 exchange built on top of the 0x protocol in the future. The most interesting asset on this list is Zcash, a cryptocurrency that supports private transactions. If Coinbase was really interested in the privacy angle, Monero, the only truly private coin with adequate liquidity, would be the obvious choice, so I’m not exactly sure why they’re looking into Zcash.

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