Cardano being the 4th largest cryptocurrency saw a 20% price surge after gaining support from Coinbase pro.
The US-based cryptocurrency exchange is all set to start trading on or after 16:00 UTC (12 p.m. ET) March 18 if liquidity conditions are met. It is making it accessible to users of all jurisdictions, also to the residents of New York state. Coinbase said that it will support ADA against four trading pairs including USD, BTC, EUR, and GBP. Currently, ADA is not yet available on Coinbase.
They said that they will publish tweets from their Coinbase Pro Twitter account to post about the launch which is divided in four stages which were transfer-only, post-only, limit-only and the final stage full-trading mode.
“Once sufficient supply of ADA is established on the platform, trading on our ADA-USD, ADA-BTC, ADA-EUR, and ADA-GBP. If at any point one of the new order books does not meet our assessment for a healthy and orderly market, we may keep the book in one state for a longer period of time or suspend trading as per our Trading Rules,” it said.
Cardano was always quoted as “ The next big thing” after ethereum as the token has exploded from $0.12 in December to around $1.23. This price rise over the past 3 months has caught the attention of investors. But several analysts and traders are doubtful whether this move will last or not.
Additionally, ADA makes it to the Bloomberg terminal allowing and giving institutional investors exposure to the peer-reviewed blockchain project.
As of writing, ADA price is $1.21 with an 18% surge in the last 24 hours, with a total market cap of $38 billion and a 24-hour market volume of $8 billion.