Earlier in the year, Chainlink advocates were in a partying mood after the US platform Coinbase revealed that it would, at last, be responding to their prayers by adding in LINK. Such advocates of both projects were extremely bullish on the matter that it saw the cryptocurrency surge by around 30 percent on the day, proving to the space that the so-called ‘Coinbase Effect’ was very much still real.
Even so, there were some limitations of the listing. The main one being that New York users of Coinbase were unable to interact with LINK via the platform. This location restriction was seemingly due to regulatory worries though, which are a byproduct of the very stringent laws and regulations in regards to money and assets in the big apple.
“While the restriction of one state may not seem like a lot, New York has the highest GDP per capita out of all the States, sporting a massive investor audience, including members of the crypto crowd. In other words, a large potential market for LINK was locked out by regulatory restrictions.”
This week saw everything change though. In a short tweet posted yesterday, Coinbase announced that users of its services “who are New York residents […] can now log in to buy, sell, convert, send, receive, or store LINK on Coinbase.com or using our IOS and Android apps.”
Along with the addition of Chainlink for New York users, the platform also unlocked Stellar Lumens (XLM) for New York residents.