🌎 Coinbase Winning – We Are Winning 🌎

[GeckoTrader]

Coinbase has been all over the news this week - starting with the announcement that it will be exploring the possibility to list Cardano, Basic Attention Token, Stellar Lumens, Zcash, and 0x.

This smells like the machinations of the Coinbase legal team ensuring they do not find themselves in the same hot water as their BCash listing.

While nothing is set in stone yet, it is a good sign to see this pillar of the cryptocurrency universe taking their responsibility very seriously, operating like the “responsible” or at least legally compliant legacy institutions they seek to disrupt.

Aiming to remain in the lime light, Coinbase then announced that they were given the green light by the SEC to begin trading securities. However the next day that statement was clarified – Coinbase has always been able to trade securities but they are now exploring the opportunity to do so. Good news nonetheless as this could open up a new avenue for investors to access cryptocurrencies.

Over the weekend the formation of The Coinbase Political Action Committee surfaced, another sign of maturity as the San Francisco based exchange continues to emulate the success of others.

In the U.S. a political action committee is an organization that raises money privately to influence elections or legislation, particularly at the federal level. For those avid fans of the TV show House Of Cards, you will understand how powerful this move by Coinbase really is.

Around this same time, Coinbase also revealed the formation of a strategic partnership with an unnamed $20 billion hedge fund and that it will be seeking partnerships with other large hedge funds too.

Recently Coinbase has been valued at $8 billion so it comes as no surprise that it is being wooed by these large traditional market players.

To top off a good week with some more good news, Facebook announced that it will be whitelisting Coinbase ads. Facebook is in the eye balls business so this will undoubtedly get Coinbase and cryptocurrencies across the screens of millions more eye balls, which translates into new retail money entering into the space.

So we have seen how Coinbase is winning but how does this help us win? The price of Bitcoin.

The markets saw a very nice bump this week and although alts took a subsequent tumble, the overall marketcap has held. What this means is that Bitcoin dominance is rising, money is not leaving cryptocurrency, it is moving to Bitcoin.

This is not surprising at all with all the talk of Bitcoin ETF’s and insututional money coming in. they are focused on buying Bitcoin and later on their attentions may turn to altcoins like ETH or ZCASH.
 
A win is a win and it is nice to have old reliable Bitcoin doing well again, alleviating some of the stresses of the current bear market.

This strong Bitcoin momentum allows us to maintain our simple strategy of being BTC heavy and just letting this current market movement play out.
 
Coinbase is doing a stand up job representing the best interests of the cryptocurrency space, reflective in this week’s positive BTC price action.

We will be following the movements of Coinbase in the coming weeks as we eagerly await more positive news

[CryptopreneurBrainboss]

We will be following the movements of Coinbase in the coming weeks as we eagerly await more positive news

The positive news form the exchange has been massive so far this year (from my point of view). coinbase has been the most busiest cryptocurrency exchange second to binance. From announcement of the Bundles package, obtaining a license under New York State Banking Law to operate as an independent Qualified Custodian, listing the USDC Stablecoin, listing of ERC-20 tokens, partnership etc it feels like every week they come up with a positive news and I still believe we haven't seen the best yet.

[joniboini]

It seems like more and more people, especially big players are putting their money to the crypto industry indirectly. Even with this Coinbase news, there is no massive pump in crypto. It is very likely that the next bull run will start next year or probably longer. Depends on when the big players come into play. It's a bit ironic that crypto looks like depends a lot on the institutional player this year.

[Cryptomilz]

It seems like more and more people, especially big players are putting their money to the crypto industry indirectly. Even with this Coinbase news, there is no massive pump in crypto. It is very likely that the next bull run will start next year or probably longer. Depends on when the big players come into play. It's a bit ironic that crypto looks like depends a lot on the institutional player this year.

What we need to know is that the growth in the price of Bitcoin especially in 2017 was not organic. A lot of pump from FOMO drove the price to the record high it got to.  The big players are yet to put their money into the space, as we would have felt the impact somehow. Here's hoping some bigger news like the ETF and others come to play soon enough.