Cardano listed on Coinbase, ADA’s price rises
Cardano’s (ADA) community long-awaited announcement has arrived. Coinbase has listed ADA on its main and pro platform. Starting today users will be able to start trading the cryptocurrency in all supported regions.
Users will be able to buy, sell, convert, receive and store the funds in ADA. These can be traded on the date referred to provide there is sufficient liquidity. The exchange will offer the following trading pairs ADA/USD, ADA/BTC, ADA/EUR, ADA/GBP.
For its Pro service, according to the exchange’s announcement, trading will be launched in 3 phases until full trading is reached. Coinbase will apply its trading rules and may suspend or stop the service if there is no “orderly market”.
At the moment, users can only make withdrawals to addresses created in Cardano’s Shelley era. That is, those starting with addr1. Coinbase will soon enable withdrawals for all Byron and Shelley addresses.
ADA rises 3.2% in 1-day chart
Following Coinbase’s announcement, ADA rose nearly 3.2% in less than an hour and reached $1.30. In the last 24 hours, the cryptocurrency has posted a 15.3% increased in the last week.
ADA hit an all-time high in late February when it stood at about $1.45. Cardano inventor and IOG CEO Charles Hoskinson hinted several times about announcements and partnerships that have boosted the rally. Among these was Coinbase’s listing.
Via his YouTube channel, Hoskinson welcomed Coinbase and called IOG’s relationship with the exchange “excellent.” He thanked the team they have worked with to enable ADA trading and stated:
I’m so happy to see that announcement today. It has been a long road. A lot of work went into that. It’s the beginning, I believe, of a great relationship which is going to extend trough out the years. Coinbase is one of the best exchanges in the world, one of the largest exchanges in the world for cryptocurrencies. We wished them well for the IPO. They have some of the greatest engineers in the cryptocurrency space.
Hoskinson said the partnership with Coinbase will continue and he expects staking support to be enabled. He was also enthusiastic about the participation traders will have with the announced trading peers. IOG’s CEO concluded:
We are going to continue working on the Rosseta spec with them (…). On behalf of everyone on Input Output Global to eveyone on Coinbase welcome to the familly, we are glad to have you. We love working with and we love working with you for this past long time. On behalf of the Cardano community welcome to ADA nation.