Coinbase lists 1INCH, ENJ, NKN and OGN

Coinbase lists 1INCH, ENJ, NKN and OGN

By HKMan | HK Blog | 8 Apr 2021


As the title says coinbase has made an announcement in regards to 1inch Enjin Coin, NKN and Origin Protocol. Following this announcement the aforementioned crypto coins/tokens shot up in value, all of them gaining 30% at least momentarily. As of right now all that Coinbase users are able to do is transferring these currencies to their Coinbase Pro accounts, trading will start on April 9 at 4PM UTC. 

Currently three of these crypto currencies (OGN, 1inch, NKN) have a market cap below 1 Billion USD. Enjin Coin being the standout among them with a market cap of 2.3 Billion USD, NKN has the lowest market cap at just about half a billion.

One thing to be aware of if you'd like to buy these coins before trading starts is that such an investment doesn't always pay off, we can look at Cardano for that as a prime example, following its Coinbase announcement (March 16) it jumped in price from ~1.05 USD to 1.45 USD at it's highest point before crashing to 1.20 USD once trading had started (March 19). That is by no means the norm, with some coins it had the opposite effect, but it is a possibility so you should tread carefully. The obvious difference between ADA and these coins is that at the time trading started on Coinbase for ADA it was already a very well known Crypto Currency with a market cap far exceeding even all of these four put together. Personally I think they'll do well but you'll have to use your own judgement in regards to any decision to invest into them. 

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