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#Cardano, #Zcash, #Stellar Surge Prior to #Coinbase #Listing; XLM up 27%
As the anticipation towards additional #cryptocurrency integrations builds following the listing of Basic Attention #Token (BAT) and 0x (ZRX), the prices of Cardano (ADA), Zcash (ZEC), and Stellar (XLM) have started to surge.
Since November 2, the day BAT was officially integrated into Coinbase Pro and Coinbase, XLM, the native cryptocurrency of the Stellar blockchain network, has increased from $0.22 to $0.28, by more than 27 percent.
Cardano and Zcash, two cryptocurrencies alongside Stellar, BAT, and 0x Coinbase expressed its interest in May, have also increased substantially in value.
Although the privacy-focused cryptocurrency Zcash experienced a 3 percent drop in price throughout the past 24 hour, since November 2, ZEC rose from $114 to $125, by around 9 percent. At its weekly peak, ZEC surpassed $140, demonstrating a staggering 21.7 increase in price in a two-week span.
Same Trend as BAT and 0x?
Prior to the listing, subsequent to the official listing announcement of Coinbase, both BAT and 0x nearly doubled in value against both the US dollar and Bitcoin (BTC). However, after the official listing by Coinbase Pro and Coinbase.com, the price of BAT plunged from $0.37 to $0.25, by over 32 percent.
The price of BAT dropped to the point before the listing itself, demonstrating that the hype around the Coinbase listing, rather than the actual listing, led the price of BAT to surge. Hence, at this point, the significance of the Coinbase listing is in question, especially if tokens tend to fall by substantial margins following the integration.
The Coinbase listing is a confirmation that the token is not considered a security by the U.S. Securities and Exchange Commission (SEC), and it opens doors for other exchanges in the US and fiat-to-crypto exchanges across the world to accept and integrate it.
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