Speculation about the next coin to be added on Coinbase was most popular topic in crypto world for a long time until this November nosedive in prices took place and forced it to take the back seat. Now, Coinbase will be back in headlines after announcing that the next coin to be added on their platform will be ZCash – ZEC.
ZEC is launching on Coinbase Pro. Starting at 10am PT, customers can transfer ZEC into their Coinbase Pro account. Traders can deposit ZEC, but cannot place or fill orders. Order books will remain in transfer-only mode for at least 12 hours. https://t.co/5nADybxqKk
— Coinbase Pro (@CoinbasePro) November 29, 2018
As you would expect it, markets are already reacting to this news and ZEC is up 13% in the last hour.
Anatomy of Coinbase pump
We can spot a pattern of how the price behaves after the coin gets listed on Coinbase. Prime examples for that are ZRX and BAT. In essence, coin gets an initial bump after being announced to be listed on the former GDAX, now Coinbase Pro platform. Approximately 5 – 7 days after that, Coinbase basic lists the token as well which sends another wave upwards for the token price.
After both listings are settled, dump starts to form, slowly at first and then a real slide downwards to almost the same price level where the pump started from.
We already covered this topic extensively and predicted ZEC has more chances to be listed on Coinbase than 2 other major nominees: ADA or XLM.
Adding those two would just be adding another dapp platform, adding ZEC would be a first privacy coin on Coinbase.