The five digital assets of Ox (ZRX), Basic Attention Token (BAT), ZCash (ZEC), Cardano (ADA) and Stellar (XLM), have been on the minds of all crypto traders ever since the team at Coinbase expressed intentions to list them on the platform. The Coinbase Effect, is a term used by savvy traders who know that once a digital asset is listed on the platform, it instantly does double digit gains in less than 24 hours.
We have seen it when Bitcoin Cash (BCH) was listed on the platform late last December; when rumors surfaced that XRP was next; when Ethereum Classic (ETC) was listed this August; and now when Ox (ZRX) was listed only a few days ago.
ZRX Listed Before BAT, ZEC, ADA and XLM
The exchange of Coinbase has since been accused of favoritism when listing Ox (ZRX) on the platform before the other four digital assets. This is because three out of five of the advisers at the Ox (ZRX) project, have a direct affiliation to Coinbase. Of course this is grounds for an investigation in a manner similar to how Elon Musk was investigated by the SEC, but there are no rules regulating the crypto industry just yet. Therefore, if this is the reason why ZRX was listed first, we can concluded that they did nothing wrong from a regulation point of view.
Why ZRX was First From A Technical Point of View
The digital asset of ZRX is an Ethereum based token. This means from a coding point of view, it was easier to integrate it onto the Coinbase platform that already supports Ethereum and Ethereum Classic. Integrating coins from other protocols would naturally take a longer time period hence why Stellar (XLM), Cardano (ADA) and ZCash (ZEC) were left out.
What About BAT? Is it Next?
Based on the theory that it’s easier to integrate Ethereum based tokens onto the platform, we can connect the dots and postulate that Basic Attention Token (BAT) might be next to be listed on Coinbase. Of course this is pure speculation, but the token made impressive gains at the same time ZRX was listed (chart below). Did traders come up with a similar theory?
What are your thoughts on Coinbase listing Ox (ZRX) before the other four prominent digital assets? Was it a case of favoritism or was it a case of ZRX being the easiest to integrate onto the platform? Please let us know in the comment section below.
Disclaimer: This article is not meant to give financial advice. Any opinion herein is purely the author’s and does not represent the opinion of Ethereum World News or any of its other writers. Please carry out your own research before investing in any of the numerous cryptocurrencies available. Thank you.