Coinbase Listing of EOS: Why Is It a Great Indicator?
Hot off the presses! Just in time for #B1June EOS event in DC, you can now purchase EOS directly from your Coinbase account thanks to the listing that the crypto exchange just announced earlier today. This addition creates one of the easiest on-ramps from fiat to EOS available on the market.
This is great news for the EOS token as Coinbase claims to have 20M users that now have direct access to purchasing EOS tokens from their bank-linked accounts. Prior to this EOS purchase was available on GDAX, which is a trading exchange arm of Coinbase.
Coinbase has always served as a bellwether of regulatory compliance and confidence in the crypto token markets. In the past it only listed those tokens that passed its stringent digital asset framework test. This ensured that the company stayed on the right side of the complex financial regulatory environment.
Adding EOS to its offering indicates the voice of confidence that Coinbase has in EOS, its tech stack and the team at Block.one.
In the summer of last year Coinbase also indicated in this post that they were considering adding EOS among other tokens to its Custody service. This is a custodial service offered to the institutional investors to optimize storing large amounts of crypto in a secure way. Aside top-notch security protection, Coinbase Custody accounts are fully insured against hacking events.
Today’s addition of EOS to its main service can now significantly speed up the process of addition of EOS to the Custody solution. This can indicate significant inflows of capital from the institutional investors into the EOS token. And we can all imagine what a significant influx of institutional (or “smart”) money may do to the price of EOS.
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