Coinbase To Add 37 Cryptos In Their Custody Sevice

Custody Service of Coinbase is said to be exploring the possibility of including 37 cryptocurrencies. This includes Doge and Ripple.

It must be noted that these cryptos are only intended for existing and forthcoming crypto asset storage and Coinbase have not considered this assets from trading in their platform.

This comes after revealing that they have the intent of supporting ERC20 token trading in their platform.

This might signal the first step towards eventual listing as they continue to explore the cryptocurrency landscape.

Coinbase is on of the biggest cryptocurrency exchange in the US but it is facing stiff competition from Circle and other Wall Street backed cryptocurrency platforms not to mention the impending entry to the US market of Binance, which is widely considered to be the largest cryptocurrency exchange in the world by transaction volume.

Coinbase’s Etherum Classic Support Very Soon

It was revealed that Coinbase, one of the U.S. largest cryptocurrency exchange is on the final stages of including Ethereum Classic (ETC) in its trading platform.

It is widely believe that it should start accepting ETC deposits sometime on August 7, 2018 and will start to allow within a 24-48 hours period to ensure that Coinbase Pro and Coinbase Prime have enough liquidity.

ETC will be included in several Coinbase services such as Coinbase Pro, Coinbase Prime, Coinbase Markets, Coinbase Custody, Coinbase Asset Management, and Coinbase Consumer.

With this new addition, the Coinbase Index Fund which was launched last June is set to re-balance to include Ethereym Classic.

ETC is the latest digital asset that was added in its platform, it is the first one to be included after announcing a list of digital assets that might be included which includes Cardano (ADA), Basic Attention Token (BAT), Stellar Lumenrs (XLM), Zcash (ZEC) and 0x (ZRX).

Accelerated Growth Of Crypto In Peru

Latin America came out as one of the most promising region in the world for cryptocurrency with growth rates that far exceeds other places.

Many reasons can be attributed for this growth from political and economic crises, as an alternative to traditional financial instruments to just plain curiosity have encourage users to adopt cryptocurrencies as a mechanism for exchanging or storing value.

One of the contries that has seen significant growth of users is Peru.

This country has seen its crypto trading volume increase at a neck breaking pace with monthly rate that sometimes exceeds 50%.

To put this on perspective, the country was trading 106 Bitcoins per week in May where in the middle of a very bearish market.

ETF IN 2018 And A Possible New ATH

In an interview by Ran Neuner of Crypto Tader, Michael Arrington, the CEO of Arrington XRP Capital reveals that he is till bullish in the short term despite its dismal performance in most part of the year.

He predicts that Bitcoin can reach 25k by the end of the year, but it depends on many factors for the bullish trend.

One of the catalyst that might make this a reality is the approval of an ETF in 2018 which he thinks that might be between August and October.

On a side note in the interview the crypto bull reveals that his company has the name XRP despite having most of their investment in BTC believing that is a good business strategy from a pragmatic point of view.

He also states that XRP is a great and more efficient way of moving money around.

South Korea’s Biggest Exchange Aces Audit

After accusations that the biggest exchange in South Korea was involved in Market Manipulations, the authorities in one the most important markets in crypto space have given the green light to Upbit and have revealed that there was no proof of any wrong doing in the part of the exchange.

This is a positive development as the cryptocurrency market is of dire need of any sort of good news that it can latch to in these times of extreme price volatility.

With everything balancing out the firm seems to be determined to ensure that cryptocurrency will thrive in South Korea, the company’s holdings match the funds locked in multisignature wallets.

To top it off they also hold an additional 27% in reserves that will allow them to reimburse clients when an untowards incident happens in their exchange such as a hack or theft.

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