Cardano is now on Coinbase
Cardano’s native token ADA is now available for trading on Coinbase. Having recently become the third largest cryptocurrency with a market cap of $41,9 billion, it is now available to retail traders on Coinbase, whereas previously it had only been available on Coinbase Pro.
Cardano is a cryptocurrency network and open source project that aims to run a public blockchain platform for smart contracts.
Coinbase made the announcement on 19th March: “Cardano (ADA) is launching on http://Coinbase.com and in the iOS and Android apps within the next 15 minutes. You may need to refresh your app to properly buy, sell, convert, send, receive, or store ADA. We will update when ADA is fully live.”
Fans of ADA and the Cardano blockchain have been begging Coinbase to list the token for some time, and currently the altcoin is showing good growth. On 22nd March it was trading at $1.2, a 20% drop from its $1.5 position of a few days ago.
Investing Cube explains what happened: “After rallying in the first few days of last week, the price of Cardano started declining on Thursday. It pared some of those gains on Friday and then continued to decline during the weekend. This price action is partly because of profit taking since the price had reached its highest level on record. Today, the ADA price is falling partly because of the overall strong dollar and the general sell-off in the crypto industry. Indeed, all major cryptocurrencies like Bitcoin, Ethereum, and Litecoin are trading at a lower price than yesterday’s high.”
However, ,” Cardano founder Charles Hoskinson, CEO of IOHK, said in a statement about the Coinbase listing: “This marks another significant milestone in the development of Cardano, allowing Coinbase’s extensive user base to access ADA for the first time.”