June 19, 2021

Coinbase Pro to List Cardano: ADA Skyrockets 20%

2 min read

The largest cryptocurrency trading platform based in the United States, Coinbase, has announced the addition of the fourth-largest digital asset by market cap, Cardano (ADA), on its Coinbase Pro version. Inbound transfers are currently enabled, while trading will launch “on or after” 9 AM Pacific Time on Thursday, March 18th.

  • The San Fransisco-based crypto giant released a declaration previously today informing that Coinbase Pro users will have the ability to purchase, sell, or store among the most popular digital properties recently– ADA.
  • The declaration notified that trading will start on or after 9 AM PT Thursday “if liquidity conditions are fulfilled.”
  • More specifically, this implies that ADA would need an adequate supply developed on the trading location. When that’s achieved, Coinbase Pro will supply several trading sets– ADA/USD, ADA/BTC, ADA/EUR, and ADA/GBP. The order books will launch in 3 phases– post-only, limit-only, and complete trading.
  • The company said that if among the order books doesn’t satisfy its evaluation for a “healthy and orderly market,” Coinbase might “keep the book in one state for a longer period of time or suspend trading.”
  • It’s worth noting that ADA is offered just on Coinbase Pro and not on Coinbase.com or any of the mobile applications. Once those are made it possible for, the business will make more information.
  • Additionally, Coinbase Pro will at first support withdrawals only to Shelley addresses (beginning with addr1), while the firm will supply full assistance “shortly.”
  • Although ADA’s listing comes with numerous preliminary constraints, the news had an immediate positive result on the possession’s rate. It traded at $1.07 before it exploded by nearly 20% to a daily high of $1.26. The buzz has decreased a little, and the cryptocurrency sits at $1.22 as of composing these lines.

ADA/USD. Source: TradingView