New coins coming to Coinbase Pro: ANKR, CRV, and STORJ
ANKR, CRV, and STORJ will be dropping soon. These three coins posted large 24-hour gains already: 56%, 24%, and 83%, respectively, diminishing my enthusiasm for them, though a further pump once trading opens on Coinbase Pro is likely. Coinbase Pro is the second-largest exchange by volume (about 9% of total crypto trading) and brings in lots of capital from the American market. So when trading starts, the market cap of these altcoins can grow significantly.
All three of these are fairly popular ERC-20 tokens running on the Ethereum blockchain. Curve DAO is a stalwart DeFi token with a lot of old-timey-looking liquidity pools. ANKR is a solution to make web3/blockchain development easy and accessible, and allow for staking. Storj is a decentralized cloud storage platform (similar to Filecoin, which has made huge gains recently but might be scammier). I don’t know a ton about these projects, but if Coinbase Pro thinks they’re worth a listing, they’re certainly worth checking out!
To get in early (before the crowd), you can use one of the following exchanges:
- KuCoin: ANKR, CRV
- Uniswap: all of the above (essentially all ERC-20 tokens — watch the gas fees!)
- Kraken: STORJ, CRV
- Binance: all 3; Binance US has STORJ (the selection for US users is always much lower 😦 ).
- Gemini: STORJ, CRV
These are somewhat exciting listings, and it’s important to get into projects early if you want to achieve big returns. That said, many projects are flops, and all three of these projects have lots of competition from similar projects in the space.
Miami Heat partnering with FTX Exchange:
In other crypto-related news, this is interesting:
Famed DeFi platform and decentralized ERC-20 exchange Uniswap remains one of the most popular platforms. It is a real gas-guzzler, often responsible for 30-40% of Ethereum transactions. This exchange won many hearts and minds when it famously airdropped $1,400 worth of its token (now worth $10k) to its early users — the original stimulus check!
Now Uniswap is announcing v3 features: https://twitter.com/Uniswap/status/1374407380520239109
They added significant customization for liquidity providers, allowing them to target a certain price range. Additional features include:
Flexible fee tiers: choose between 5bps, 30bps, or 100bps
Advanced oracles: return TWAPs in one transaction
Range Orders: LPs can sell for another along a smooth curve, similar to a fee earning limit order
It is exciting to see continued development in the space. However, users are still frustrated with the high gas fees for transactions. This is more of an Ethereum problem than a Uniswap problem. However, exchange aggregators like 1Inch and novel “2nd-layer” solutions like Loopring are aiming to help solve it. Alternative blockchains to Ethereum, like PolkaDot and the more controversial Binance Smart Chain (BSC; centralized) and Cardano (ADA; centralized and rather unproductive), are also hoping to supplant Ethereum. Ethereum, however, has a long head-start, and their top position is really theirs to lose. Either way, Uniswap’s token dropped about 7% in value today to $30, which is a key psychological barrier. Only time will tell if it pumps on the hype of their announcement, or if it tanks due to disappointment with the perceived failure to address the high gas fees.