Cardano officially listed on Coinbase today and the price of ADA expectedly increased so let’s take a closer look at today’s Cardano ADA news today.
Starting today the users will be able to start trading the cryptocurrency in the supported regions and the users will be able to sell, buy, convert, receive and store the funds in ADA. These can be traded on the date that is referred to provide sufficient liquidity with the exchange offering the following trading pairs ADA/BTC, ADA/USD, ADA/EUR, and ADA/GBP.
For the PRO service, according to the announcement of the exchange, the trading will be launched in 3 phases until the full trading is reached. The exchange will apply the rules and will be able to suspend or stop the service if there’s no orderly market. The users are now only able to make withdrawals to addresses that were created in the Shelley era but those starting with addr1. Coinbase will enable withdrawals for both Byron and Shelley addresses. Cardano officially listed on Coinbase means that the prices could continue rising in the near-term.
After the recent announcement from Coinbase, ADA rose about 3.2% in less than an hour and reached $1.30 over the last day as the cryptocurrency posted a 15.3% rise in the past week. ADA hit an ATH in February when it hit $1.45 and the CEO and creator Charles Hoskinson hinted a few times the partnerships and announcements ended up boosting the rally. Among these was the Coinbase listing as well and he welcomed Coinbase on his YouTube channel, thanking the team:
“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 continued by saying that the partnership with the exchange will last and he said he expects staking support to be enabled:
“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.”
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Stefan has been writing articles for DCForecasts since 2016 in-house full time. As one of our main cryptocurrency writers, he focuses on covering the latest cryptocurrency news, technical charts, price analyses of coins and press releases. When he is not exploring and covering the latest topics in crypto, you can find Stefan playing basketball, tennis or cycling.
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