Check out what happened when Bitcoin Cash was listed on Coinbase on the 19th of December 2017. Bitcoin Cash spiked and rose from a value of $1887.96, up to an all time high of $4355.62, forcing Bitcoin Cash up 130.7%.
Image sourced from coinmarketcap.com
With NEO are the fore of the headlines at the moment, we want to explore how a NEO listing on Coinbase would impact the value of the currency, assuming that would take off in the same way Bitcoin Cash did. At this point I must note that yes, the Coinbase listing for Bitcoin Cash took place during the 2017-2018 cryptocurrency boom, however Bitcoin Cash did not surge at the same time as Bitcoin, therefore we can’t accuse Bitcoin of pushing the price of Bitcoin Cash up and therefore it is more likely that the 130% rise was complemented by Bitcoin Cash’s Coinbase listing.
At the time of writing, NEO is valued at $33.25, therefore a rise of 130% would see NEO reach a value of $76.50.
Indeed, a Coinbase listing could help bring NEO up to a value exceeding $75.00, though this is still over $80.00 shy of NEO’s all time high of $161.98.
Will Coinbase list NEO?
Obviously this won’t happen just yet. We know the next currency for Coinbase is of course Ethereum Classic, but given the rising popularity of NEO we do expect that this is now a currency very much on the Coinbase radar. As NEO is now fully decentralised, this too compliments Coinbase operations and makes NEO a far more likely option to see a listing, in comparison to XRP for example, which is considered to be a security by many.
Please note that this is speculative. We don’t know that Coinbase will list NEO and moreover, we can’t guarantee that if it does, NEO will rise 130%. This is based on the historical performance of Bitcoin Cash which saw a 130% spike with a Coinbase listing so therefore, we can expect at the very least, a NEO listing on Coinbase would have a similar impact.