Coinbase Bundle Performance Tracker Reveals Sad State of Crypto Market
Coinbase puts itself as a major cryptocurrency platform and does hundreds of experiments and research to support that assertion. Recently a cryptocurrency expert, the founder of Dogecoin Jackson Palmer noticed a weird chart still running on coinbase. The particular chart in question is an old chart that shows the performance of an imaginary $100 investment in coinbase bundle.
Coinbase is a sort of fund that tracks the prices of the top 5 cryptocurrencies by market cap, listed on Coinbase. The cryptocurrency Bitcoin, Ethereum, Bitcoin Cash, Litecoin and Ethereum Classic. However not every coin performed up to expectation in the last week, month or year. The chart starts from a timeline dated at Jan 4, 2013, and turns the imaginary $100 into $12,530.18. Unfortunately, coinbase started in September 2013 so there is no way a Jan 2013 investment is possible on the Coinbase Bundle.
Coinbase Announces Inbound Transfers for CVC, DNT, LOOM, and MANA
Recently coinbase announced that inbound transfers for CVT, DNT, LOOM, and MANA were already available. The platform revealed that order books would be in transfer only mood for at least 48 hours. During the period, traders could move their funds into coinbase Pro but cannot yet place or fill orders.
CVC, DNT, LOOM and MANA order books will soon enter transfer-only mode. We will accept inbound transfers of these assets, but traders cannot place orders and no orders will be filled. Order books will be in transfer-only mode for a minimum of 48 hours. https://t.co/drhrNCKQOG
— Coinbase Pro (@CoinbasePro) December 7, 2018
The announcement follows a subsequent announcement Coinbase made early this year showing it’s interesting in supporting ERC20 technical standard. The platform also recently launched 0x (ZRX), Basic Attention Token (BAT), and its native stable coin, USDC (USD Coin) all built on the Ethereum ERC20 Architecture.
The crypto platform revealed that many more ERC20 tokens would be added onto its platform in the nearby future. The methods for adding to token onto Coinbase is based on the ease of integrating the protocol with the existing Coinbase infrastructure. The platform revealed that it is exploring possibilities of adding none ERC20 tokens too based one jurisdiction by jurisdiction basis.
Coinbase Filed Trademark for BUIDL
Many cryptocurrency enthusiasts have read, used or heard someone using the word BUIDL. Technically BUIDL is a spelling mistake for BUILD but surprisingly Coinbase filed a trademark that makes the word its property. However, the team at Coinbase said they wouldn’t prevent people from loosely using the term over the internet or anywhere else for that matter.
In justifying the patent application, Coinbase revealed that it might have a product in the future called Coinbase BUIDL. The patent to protect them from any possible future patent trolls for a common term. Coinbase CTO Balaji S. Srinivasan claims that he is the first person to use the word BUILD. Here is his comment on twitter,
PS: to my knowledge, the first use of BUIDL was actually in a talk I gave back in April 2015 way before joining Coinbase. But it’s entered the common crypto lexicon at this point and we wouldn’t have it any other way.
Coinbase is Exploring Supporting Ripple’s XRP and others
On another news, we understood that Coinbase wants to support Ripple’s XRP and several other digital assets. The list according to an online source includes XRP (XRP), Cardano (ADA) EOS (EOS) and Stellar (XLM). In their recent announcement, Coinbase mentioned that it is exploring the addition of some new digital assets. Coinbase said:
Coinbase is exploring the addition of 30+ new digital assets. It’s our goal to offer support for all assets that meet our standards and are compliant with local law. https://t.co/Hl2zbVodLl
— Coinbase (@coinbase) December 7, 2018
Coinbase said it would offer greater support for the assets that meet their standards. However, the cryptocurrency platform wants assets that are fully compliant with local laws. The company said they would offer their customers access to more than 90% of all compliant digital assets in a nearby future.
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