Coinbase is the first large cryptocurrency exchange platform to go through IPO. At that moment, crypto bulls believed that the Coinbase IPO is an Amazon moment for cryptocurrencies. Nonetheless, the exchange doesn’t support many popular cryptocurrencies which have been trending lately.
Coinbase doesn’t support Dogecoin or Binance
For instance, Coinbase doesn’t offer trading in Dogecoin, the meme-based digital currency that saw a $13,000 gain year-to-date. The digital token is backed by the 2nd richest person in the world and CEO of Tesla (NASDAQ: TSLA) Elon Musk. Additionally, Coinbase doesn’t support the 3rd largest digital currency Binance, which is valued at $99 billion.
“Coinbase has been in a steady decline since its debut as many cryptocurrency traders have begun betting big on altcoins and tokens on other exchanges, while some have decided to directly hold their cryptos in a wallet,” Edward Moya, senior market analyst at Oanda, told Insider.
Meanwhile, the cryptocurrency exchange Gemini enabled its users to trade Dogecoin as of Tuesday, following the steps of major platforms like Robinhood Financial and Kraken.
