ADA Surges 18% in Price as Coinbase Pro Allows ADA Trading

March 17, 2021, 9:00 AM AEST - 8 months ago

Today, Coinbase announced support for Cardano’s ADA in Coinbase Pro. Trading will start this Thursday, at 9:00 PM pacific time. Users can compare ADA’s price in four currencies:

  • ADA-USD
  • ADA-BTC
  • ADA-EUR
  • ADA-GBP

According to the blog post, Coinbase will support Shelley addresses, one of Cardano’s wallets with the prefix “addr1”. The platform is planning to provide full support for the Byron wallet, also called “Legacy”.

Coinbase Users Demanding ADA

Cardano is rising fast in the crypto-community since the protocol implemented the Mary Fork in its ecosystem, turning it into a multi-asset network.

Likewise, the support for ADA came shortly after the platform registered heavy demand from users, as Cardano becomes an attractive asset for crypto-traders and investors.

In a recent interview with Bloomberg, Charles Hoskinson gave stated that about 100 DeFi protocols will ditch Ethereum and switch to Cardano’s protocol. Accordingly, Cardano is ready to provide several benefits for DeFi than its competitors with its new multi-asset system.

The ADA token surged over 477% since January this year, calling the attention of several investors in the crypto market.

More Australians Buying ADA

Likewise, more Australians are considering adding ADA to their portfolio as price increases. Moreover, the token appeared in 9 News Australia, in a section called “The New Bitcoin”, stating that more investors are exploring Cardano as an alternative for BTC.

ADA is up 18% following the announcement, trading at $1,21, according to Coinmarketcap. 24-hour trading volumes have reached levels over $7,500,000,000, a 70.00% increase.

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