Coinbase Considering Adding Support For Over 100 Altcoins

Crypto exchange Coinbase is contemplating adding support for more than 100 new crypto assets after recently enabling trading for Enjin (ENJ) and Cardano (ADA).

Gaming token ENJ and Cardano’s native asset ADA saw a significant price increase following their listing on the San Francisco-based firm’s trading platform. ENJ soared by 65% and ADA by 28% within 24 hours of the announcement.

In a new interview on CNBC, Coinbase CEO Brian Armstrong reveals that the exchange is adding more cryptocurrencies to its coin roster as he explains why people should invest in the company.

“We’re not tied to one particular crypto asset. We’re adding support for over 100 crypto assets now, and there’ll be more and more in the future.

You know we’re also kind of what you might call an indexed bet or a levered bet on the crypto space, more broadly because we’re kind of selling picks and shovels. We’re helping people access and use this to new technology, so I think we’re going to grow along with the crypto space.”

Coinbase already added eight new digital assets this year: ADA, Ethereum scaling solution Polygon (MATIC), layer-2 scaling solution Skale Network (SKL), decentralized exchange (DEX) SushiSwap (SUSHI), DEX aggregator 1inch, ENJ, peer-to-peer connectivity network NKN, and decentralized commerce and finance project Origin Protocol (OGN).

Of the assets that Coinbase has announced it is considering for its trading platform, nine are still under review.