Could we see Tron on Coinbase before Ripple?
Rumors are mounting that we may soon see Tron on Coinbase, the leading US-based cryptocurrency exchange.
For a long time, Ripple’s XRP has been hotly tipped to be the next asset added to the popular platform.
It’s no secret that being included on Coinbase is the coveted listing for all digital assets.
As hopes of seeing Ripple listed on the exchange are dashed time and time again, attention is shifting towards the possibility of a listing for Tron on Coinbase instead.
The Coinbase/GDax exchange has come to be considered the pinnacle for any crypto wishing to be seen as a serious project.
With the constant speculation over which coin will be added next, it has become a fixation for some.
Typically, prices skyrocket for any coins that get listed on a major exchange.
Just last week, ZCash soared in value by almost 50 percent after being listed in the Winklevoss’s Gemini exchange.
The trading volumes for ZCash ballooned nearly 300 percent in just 24 hours following the announcement.
Tron on Coinbase over Ripple
Ripple (XRP) has so far been unsuccessful in its attempts to get listed on Coinbase.
The exchange has previously cited concerns about the SEC declaring Ripple as a security, which is something Coinbase is keen to avoid.
On the other hand, Tron (TRX) is rumored to be on the verge of a inclusion on the leading exchange.
Speculations about listings are usually quashed by Coinbase, however, they will remain tight-lipped about any new additions, and we won’t find out what has been listed until it’s already added.
Coinbase prepares to increase trading volume and profit
Obviously, Coinbase is a profit-making venture.
The company’s recent internal valuation revealed the startup is worth $8 billion.
To hold their position in the space, they cannot continue to ignore some of the popular coins other than those they have listed already.
One of the key criteria considered when looking for new additions is potential for high trading volumes.
Likely candidates would need a large market cap and growing community of investors.
Coinbase is widely considered a market leader in the space, and one way to hold that position is by giving customers what they want.
The company has recently hired more staff and reworked its platform in a way that suggests in preparing for the imminent addition of a new high-volume asset.
And Tron TRX certainly fits the bill for the type of crypto the firm is looking to add.
According to one pundit on Reddit, “TRX has consistently huge volume, high liquidity, and massive social media presence and will launch its mainnet with more registered users than any other cryptocurrency platform.”
Feng Li’s connection to the Tron on Coinbase rumors
One factor that’s adding to the speculation is that Feng Li is the only direct connection between the two platforms.
Li is thought to be an early investor in both Tron and Coinbase.
Although his backing is unverified, it’s certainly adding to the theories that TRX may be picked over XRP.
The unconfirmed rumor that Li could be a factor first surfaced when Virtual Crypto Traders tweeted saying:
“#Rumor is that Coinbase can list #TRX. It should be noted that one of Tron’s key investors is Feng Li. Why is this important? Well.. in 2011, as a partner with venture capital firm IDG, Li became the very first investor in Coinbase with $100,000 in seed funding.”
An IBT article from 2013 adds weight to these reports after it names “Feng Li, the IDG partner who chose to fund Coinbase.”
Other accounts also put Feng Li at Tron and Litecoin, suggesting his influence may be enough to get Tron on Coinbase.
Tron opens an office in New York
Opening an office in New York is most likely coincidental, although it could be a Coinbase-related strategic move.
Tron founder Justin Sun confirmed the opening of an office in NYC, along with the fact that his company is “pushing hard” to be added to at least three US exchanges.
These exchanges are Coinbase/GDAX, Circle, and Gemini.
Tron’s team has been “aggressive but professional” in pushing to have Tron on Coinbase.
This is in contrast to the allegations that Ripple is offering large sums of money to sweeten the deal.
Only time will tell whether these assertions have any true weight to them or not.
One thing for certain is that seeing Tron on Coinbase alongside the launch of the highly anticipated Mainnet at the end of May would be a double joy for TRX investors.