Basic Attention Token (BAT) is listed on Coinbase Pro

Coinbase announced yesterday that it will soon start trading the Basic Attention Token (BAT) on Coinbase Pro. As with the last listing of 0x (ZRX), the trade will be released gradually, which also means that BAT will probably also be available on Coinbase in a few days. Now that Coinbase has accelerated the absorption of new crypto currencies, the question arises as to which will be the next?

The announcement in the medium post says:

We accept deposits for at least 12 hours before we start trading. As soon as sufficient liquidity is available, trading is started with the order book BAT/USDC. Users can convert their USD to USDC with one click within the trial interface[…]. BAT trade will be accessible to users in most jurisdictions, but will not initially be available to residents of New York State.

As Coinbase already announced in earlier announcements, the Exchange will not make all crypto currencies available anywhere in the world. If there are regulatory concerns, Coinbase (initially) excludes them. For this reason, trading of the Basic Attention Token (BAT) does not appear to be allowed in the American state of New York.

The blog says that the start of BAT will take place in four phases, consisting of transfer-only, post-only, limit-only and full trading, just like at 0x. Initially, customers will not be able to place orders and no orders will be executed on these order books. The order books are first kept for 12 hours in transfer mode. In the second stage, the order books are kept in post-only mode for at least one minute. In the third stage, the limit orders begin to match, but customers will not yet be able to place market orders. In the final phase, full trading begins, including limit, market and stop orders.

Furthermore Coinbase writes in the medium-post:

Please also note that BAT is not yet available at Coinbase.com or in our iOS and Android apps. In this case we will make a separate announcement.

Translated this means that BAT will also be available on Coinbase.com in a few days. As with the last listings, BAT also experienced the “Coinbase effect” in the last few hours. Since the announcement, BAT’s rate has risen from around $0.26 to a new high of $0.315 in 20 minutes. In the meantime, the price at the editorial point is around USD 0.29, but can still rise by around 12 percent within the last 24 hours.

Which crypto currency is next?

Coinbase had already announced its plans in March to expand its offering to include more ethereal-based (ERC20) tokens. In July, Coinbase announced that it was investigating the listing of ZRX, BAT, Stellar (XLM), Cardano (ADA) or ZCash (ZEC). Now that the first two crypto currencies have been added to Coinbase, the question seems to be whether Stellar, Cardano or ZCash is the next coin to be added and get a price pump through the “Coinbase effect”.