n March, Coinbase launched its own cryptocurrency index, naturally based on the coins they offered. Now the San Francisco-based company announces the creation of an investment fund, called the Coinbase Index Fund, reserved for large investors, with a cut from 250,000 to 20 million dollars.
This is a product that can therefore apply to both private investors and institutional operators, such as investment funds in cryptocurrencies or hedge funds.
Of course the cryptocurrencies treated are only those related to the Coinbase platform, so they are:
Bitcoin weighed at 61.5%
Ethereum weighed at 27.2;
Bitcoin Cash, weighed at 8.2%
Litecoin weighed at 3.1%
Currently, Ethereum Classic (ETC) is not supported, although a few days ago it was officially announced its introduction in the bouquet of the exchange, causing the quadrupling of the volumes exchanged in 24 hours. However, its integration can be expected in a short time.
At the moment only accredited investors in the United States are admitted, therefore either private american residents or financial operators . All private investors must have assets of at least one million dollars, with incomes of at least $ 200,000 a year.
This will clearly limit the number of eligible investors but allows the offer to be reserved only for that range of operators who can accept the risk associated with an investment in cryptocurrencies.
The fund will be reviewed several times a year based on the performance of the various cryptocurrencies and security, based on their listing and development prospects.
The managerial work will be paid with an annual fee of 2%, based on the potential profits that can be produced by the fund.
So it is to be presumed that there will be a multi-annual commission compensation mechanism in the event of failure to reach the target.
After Coinbase Index Fund, the company is expected to launch more funds in the future, over a wider range of cryptocurrencies, accessible to all investors, but has not given any specific time period to the transaction.
The Coinbase Submission Confusion has Smacked Dogecoin (DOGE) Hard in the Bear Market!
The bear market has been ruthless for most of the altcoins and Dogecoin (DOGE) has been one of its victims. Dogecoin has dropped to 21st spot in the rankings after having a successful time in the recent past. It looks like the Shiba Inu based meme coin has taken a larger smack in this bearish run. Dogecoin has gone through succession of losses in last few days which has dragged it out of the top 20 coins.
So why has the coin dropped significantly while it had made an impact among the cryptocurrency users? Has DOGE lost its image among the investment bodies, or it is just an effect of the bear market? Well at first glance it looks like that Dogecoin has gone wrong with its short-term plan. As the cryptocurrency users know that the basic fundamentals of the dogecoin are still strong but the shortcoming has been its short-term plan. After the launch of Dogethereum nothing big has been updated by Dogecoin network. And dogecoin has not been able to keep their users up to date about what plans they are coming up with.
The big reason of its recent drop is the news of the Dogecoin dev team not preparing for a potential move to put forward the submission of DOGE’s listing on Coinbase Exchange. One of the members of Dogecoin’s development team stated on Reddit: “We just cannot do it in an automated fashion with their online Google forms, since they ask questions which do not apply to us. Ergo we are not “preparing” that submission, no, because we can’t.”
This statement from dogecoin’s representative has driven away most of the short-term traders who were investing in dogecoin just because of Coinbase listing to drive its price. Nevertheless, the member of dogecoin dev team cleared the issue and further stated:
This doesn’t mean that Dogecoin is out of the picture at all but for a while it can’t due to certain specifications. Dogecoin has the potential to get listed on Coinbase, if in future Coinbase decides to enlist dogecoin directly, the chances are that it will make it to the exchange. In the long run, the core groundwork will decide the growth of dogecoin’s network and the fun coin has one of the powerful fundamentals among the digital assets.
At the time of writing, Dogecoin was trading with a price of $0.0044 USD with a market cap of $518 million and had a trade a trade volume of $16 million. After its recent price drop from $0.005 USD, dogecoin is improving a bit. Currently, it was rising up with a rate of %1.4 in last 24 hours.
Basic Attention Token (BAT) Trading See Double-Digit Boost Amidst Coinbase Rumors
Basic Attention Token (BAT) Trading See Double-Digit Boost Amidst Coinbase Rumours
BAT, the token set to reward users of the Brave browser for viewing adverts, is one of a few coins that showed green last week when others didn’t.
BAT’s rise comes amid speculations that the cryptocurrency might be the next to be listed on Coinbase, following the footsteps of the recently added 0x. The speculation is backed by a report released by Coinbase that had talked about exploring the addition of cryptocurrencies like Basic Attention Token [BAT], Stellar Lumens [XLM] and Cardano [ADA]. More specifically, the exchange had made it clear they were introducing ERC20 tokens at some point. The two currencies named in this conversation are 0x – which has been added – and Basic Attention Token. As such, it appears to be a matter of time until BAT makes it to this platform.
— CryptoCoinGod (@CryptoCoinGod) October 17, 2018
There are many different reasons as to why Basic Attention Token can be a pretty interesting project moving forward. The native asset of the Brave browser has the potential to change the way people look at the internet altogether. It is also a token subject to a fair bit of speculation in the cryptocurrency industry these days, which can lead to quite a bit of volatility along the way.
Founder Eich revealed more of the plans for the promised Brave user rewards of BAT in August 2018, including that users are now testing adverts and payment methods ready for roll out. Something that could be garnering attention for Brave this week is Eich’s letter to the U.S Senate calling for a U.S version of Europe’s new data protection policy GDPR. Notably, the EU’s chief privacy regulator, Andrea Jelinek, referred to the letter in her testimony to a U.S Senate Committee.
However, on the other hand, Quantum Vision tried to convey some technical analysis wisdom with BAT speculators. His findings indicate there will be a potential dip which pushes the value down to $0.191 again. Even so, the target for this week seems to hover near the $0.24 mark, a value which certainly isn’t out of reach based on the current circumstances.
0x [ZRX], Basic Attention Token [BAT] see double-digit rises; Coinbase speculated to be common factor
The markets opened today, October 17, to a mixed bag of bullish and bearish rises. Popular cryptocurrencies like Bitcoin [BTC], Ethereum [ETH] and XRP were trying hard to escape the clutches of the bear but surprisingly, it seems to be the day of the underdogs.
Cryptocurrencies like 0x [ZRX] and Basic Attention Token [BAT] have been seeing double-digit shoot ups due to development news and listings on popular exchanges.
At the time of writing, 0x [ZRX] was rising at an impressive 28.95% with a total market cap of $518.489 million. The cryptocurrency was trading for $0.957, with a 24-hour market volume of $132.751 million.
Binance held a staggering majority of the total ZRX trade volume, 44.51% to be exact. Binance’s volume hold of $61.504 million was followed by Coinbase Pro, which had a grasp on $21.640 million of the entire trade volume.
0x’s massive growth comes in the wake of the cryptocurrency being listed on Coinbase, a popular cryptocurrency exchange. Coinbase had stated:“Coinbase customers can now buy, sell, send, receive, or store ZRX, along with Bitcoin, Bitcoin Cash, Ethereum, Ethereum Classic and Litecoin. ZRX will be available for customers in most jurisdictions, but will not initially be available for residents of the United Kingdom or the state of New York.”
The other cryptocurrency enjoying the rodeo was Basic Attention Token [BAT], joining the double digit growth club. At press time, BAT was surging by 11.12%, with a total market of $206.668 million. The cryptocurrency was trading for $0.207 with a 24-hour market volume of $12.823 million.
Binance was again in the picture when it came to majority trade volume hold, with almost $5.904 million of all BAT trade occurring on the exchange. Binace was closely followed by EtherDelta, with a grasp of $1.945 million of all Basic Attention Token trade volume.
BAT’s rise comes amid speculations that the cryptocurrency might be the next to be listed on Coinbase, following the footsteps of the recently added 0x. The speculation is backed by a report released by Coinbase that had talked about exploring the addition of cryptocurrencies like Basic Attention Token [BAT], Stellar Lumens [XLM] and Cardano [ADA].