Even in the face of claims that it was selling “unregistered securities,” Coinbase has been adding new cryptocurrencies like VeChain to its ecosystem despite heightened regulatory scrutiny. Unfazed, the exchange continued to add additional assets to its platform in order to grow. Coinbase recently announced that it intended to offer the well-known assets VeChain [VET] and VeThor [VTHO].
The current step taken by Coinbase was in line with its objective of increasing openness throughout the crypto ecosystem. By sharing as much pertinent information as possible, the exchange tries to promote information symmetry. Therefore, Coinbase will use specific blog entries to inform the community about the listing of each crypto asset.
Why Was VeChain Listed?
Coinbase explained the rationale behind listing VeChain and VeThor in a blog post. The purported goal of Coinbase is to offer any asset that satisfies its standards for legality and technical security, omitting elements like market capitalization or project popularity. Instead of taking the aforementioned factors into consideration, the emphasis is still on meeting strict requirements.
The exchange actively adheres to a thorough evaluation procedure that entails meeting a set of requirements. These requirements include compiling enough data about the asset and carrying out the required technical integration work.
Investors frequently interpret the admission of a cryptocurrency asset to an exchange as a positive sign for the asset’s valuation. More specifically, there are benefits to being listed on well-known exchanges. The listing of VET and VTHO on Coinbase, one of the biggest cryptocurrency exchanges in the world, helped to drive up the prices of these two coins.
VET was trading at $0.0175 at the time of publication, up 3.2% on the day. Notably, this is the altcoin’s highest price point in the last week. VTHO, on the other hand, was trading at $0.0011 and had increased 5.7% over the previous day.