This support may be interpreted as an implicit—and important—endorsement by Coinbase, which is arguably one of the most influential exchanges in the cryptocurrency market. While staking rewards isn’t the same as a new listing, ATOM may benefit from the widely accepted “Coinbase Effect,” which says that a listing on the San Francisco-based exchange brings a sharp—even ridiculous—price boost.
In a series of tweets on Sep. 17, the exchange said decentralized finance’s explosion in popularity, alongside wider levels of crypto adoption, were key factors in its decision. With networks getting more congested because of higher numbers of transactions (and gas fees going up as a result,) it seemed inevitable this policy wouldn’t be sustainable forever.
Aiming to "reduce systemic risks" in the DeFi ecosystem, Coinbase is launching a new price oracle that will provide up-to-date rates on BTC/USD and ETH/USD every 60 seconds.
It seems like the #RippleArmy has won at least one major battle: acceptance by Coinbase. One of the biggest names in retail crypto trading announced on Monday that its Coinbase Pro platform will start accepting inbound transfers of XRP Tuesday morning.
