Based on the Coinbase latest report the fall in the crypto prices had some serious drawback for the Coinbase App. Coinbase CEO and founder, Brian Armstrong, stated: “After many years of this, I’ve come to enjoy the down cycles in crypto prices more. It gets rid of the people who are in it for the wrong reasons, and it gives us an opportunity to keep making progress while everyone else gets distracted,” Armstrong posted. “We use the down cycles to build a strong foundation so we can thrive in the next growth cycle.”
Although the crypto market has been disappointing this past year, Coinbase is still expanding its business with new services and working towards to bring institutional customers in the cryptosystem.
Two months ago the company announced four new cryptocurrencies which were added to the Coinbase exchange during the past month.
Now the crypto trading giant wishes to adopt five new cryptocurrencies in its platform: Zcash (ZEC), Cardano (ADA), Stellar Lumens (XLM), 0x (ZRX)and Basic Attention Token (BAT).
In June, Coinbase also announced its plan to add Ethereum Classic (ETC).
Coinbase stated that the tokens expansion requires intense research as each coin has a different architecture.
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Currently, Coinbase supports Bitcoin, Bitcoin, Litecoin, and Ethereum. The expansion can subsequently increase the exchange’s volume and income.