Q4 2018 is officially underway. It’s been a tough year for crypto after a huge bull run in 2017. Some analysts suggest, however, that the end could be in sight: several major events that occurred in Q3 2018 could push us into a “crypto super rally” in the coming weeks.
The news was first reported by Dalmas Ngetich at Ethereum World News, who wrote that the “divergence between price and fundamental developments point to serious undervaluations of digital assets.”
Ngetich is speaking the truth: over the last few months, there have been increasingly positive news stories from across the crypto space. We’ve had the announcement of Bakkt, for example, and other regulated custody services. Earlier this week, it was announced that TD Ameritrade would likely integrate crypto trading directly into clients’ ordinary trading accounts thanks to a partnership with a startup called ErisX.
There have been so many positive news stories over the last few months, but markets haven’t surged like some have expected. There have been so many positive news stories, in fact, that we can focus exclusively on Coinbase’s positive news stories.
Here are just a few of the things Coinbase did over the last three months that could cause a crypto bull run in the coming weeks:
June 2018: Coinbase Opens New Offices Across The United States
While some claim the United States is making it difficult for crypto startups to exist in the country, others point to the success of Coinbase as a counter-example. Coinbase opened multiple offices across the United States in Q3 2018 to supplement its existing offices in San Francisco and New York. Coinbase opened an office in Portland, Oregon in Q3 2018 and hired 100 new employees, although the company plans to expand to other US cities in the near future. The Portland office will focus on compliance, IT, finance, and customer support.
June 2018: Coinbase Takes Steps To Become An SEC-Regulated Broker Dealer
Coinbase wants to get permission from the SEC to become a broker dealer. Typically, an SEC-registered broker dealer would deal with stocks, bonds, and securities. Coinbase, however, wants to add a new twist: they want to issue blockchain securities.
The SEC and FINRA plan to oversee Coinbase’s operation due to the regulatory complexities. That’s good news, however, because it shows regulatory agencies are willing to work with the company.
It’s also important to note that Coinbase is already regulated in the United States. The company has an Alternative Trading System (ATS) license and a Registered Investment Advisor (RIA) license.
Coinbase has already taken steps to become an SEC-registered broker dealer. Earlier this year, the company acquired three existing securities dealers, including Keystone Capital Corp, Digital Wealth LLC, and Venovate Marketplace, Inc.
July 2018: Coinbase Launches Custodial Services For Institutional Investors
Coinbase launched its crypto custody services in July 2018, allowing institutional investors and high net worth individuals to securely store their crypto fortunes while enjoying the ability the trade more safely.
Over the last few years, institutional investors have been hesitant to get involved with crypto due to concerns over the security of cryptoassets. Exchanges routinely get hacked, and few exchanges offer the support institutional investors need to manage their accounts. Coinbase changes that with its crypto custody solution.
Over the next few months, Coinbase is reportedly planning to add more than 40 different digital assets to the platform, although their custody service currently only supports bitcoin, Bitcoin Cash, Ethereum, Ethereum Classic, and Litecoin.
July And August 2018: Coinbase Boosts Crypto Mass Adoption Efforts
In July and August 2018, Coinbase boosted its crypto mass adoption efforts by partnering with a number of companies. This summer, Coinbase announced a partnership with London-based WeGift, for example, which allows ordinary investors to purchase 120 different types of gift cards using crypto. It’s a small step, but it’s one that helps crypto go increasingly mainstream.
Coinbase also announced plans to release a WooCommerce plugin, allowing merchants around the world to accept payments in crypto.
August 2018: Coinbase Adds Instant Trading, Increases Limits
In August, Coinbase increased daily trading limits to $25,000 for verified account users, allowing ordinary investors who have completed KYC/AML verification to trade up to $25,000 of cryptoassets every day. At the same time, Coinbase added its popular instant trading feature.
September 2018: Coinbase Is Rumored To Be Exploring Bitcoin ETF Launch With Blackrock
Markets briefly surged in September 2018 when it was reported that Coinbase was partnering with the world’s largest asset management company, Blackrock, to release a crypto ETF.
Those plans have not been confirmed. However, a Coinbase and BlackRock bitcoin ETF would be huge to say the least.
Could We See A Bull Run Before The End Of 2018?
Coinbase has laid the foundations for a bull market, but crypto prices continue to slump. Could we see that change in the next few weeks? Or will we have to wait until 2019 – or even longer – for a bull run?