Post
Topic
Board Altcoin Discussion
Re: Is It Better to Transfer Coins to Exchanges Now or Later?
by
FortuneFollower
on 16/12/2024, 08:03:49 UTC
Coinbase, which I'm not a big fan of, goes down, it'll be because of something like what FTX was doing. And if so, whatever deity you pray you, help us all.
Why? Smiley

Coinbase may look big but it is not big enough to have as significant an effect as MtGox had on the price.
Checking https://coinmarketcap.com/rankings/exchanges/ we can see that out of the total $127.58 billion daily volume only 2% of it or $2.6 is coming from coinbase! Only 2%. MtGox back in 2013 had more than 85% of the total daily volume.

If a CEX with 2% of the total daily volume goes down, it will have a small impact like FTX. A temporary hiccup... not the end of the world Wink

If Coinbase collapses the effect will be catastrophic! The knock on effect would be huge. Those without their crypto in a wallet trying to get off all exchanges would cause a run. If Coinbase one of largest, if not the largest, could go down which would be safe?
Plus the repetitional damage to the crypto industry as a whole would take years if not decades to recover from.

I don't think it's going to happen...

Don't worry, be happy.
And you needed to read the post in the quotes - it wouldn't be the end of the world.
Maybe for a day or two - but that's it. Not a long-term shift in the space due to it.