Cardano (ADA) will now be available in all Coinbase’s supported jurisdictions. Starting from Tuesday, March 16, ADA was added to the Coinbase Pro account ahead of trading. The token has jumped over 18 percent on the announcement, reaching $1.28 within the day, before cutting some of its gains.
Coinbase Pro Supports Cardano ADA
As per the terms of the listing process, Coinbase has anticipated more assets to meet their standards over time. Most recently they have added trading support for SushiSwap (SUSHI), Polygon (MATIC) and SKALE (SKL), The Graph (GRT), Aave, (AAVE), Bancor (BNT), Synthetix (SNX), Filecoin (FIL), NuCypher (NU), Wrapped Bitcoin (WBTC), Balancer (BAL), Ren (REN), Uniswap (UNI), yearn.finance (YFI), Loopring (LRC), UMA (UMA) Celo (CGLD), Numeraire (NMR), Band (BAND), Compound (COMP), Maker (MKR), and OmiseGo (OMG), along with supporting additional European and UK order books, said Coinbase.
“We will publish tweets from our Coinbase Pro Twitter account as each order book moves through the phases,” Coinbase added.
Cardano ADA blockchain platform
The Cardano ADA blockchain platform is built on a proof-of-stake consensus protocol. The transactions are validated without high energy costs. The native token of blockchain is ADA. However, ADA is not yet available on Coinbase. But Coinbase’s professional trading arm has already accepted inbound ADA transfers. Coinbase is yet to list the token.
“Once sufficient supply of ADA is established on the platform, trading on our ADA-USD, ADA-BTC, ADA-EUR, and ADA-GBP, order books will launch in three phases, post-only, limit-only, and full trading. 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.”
Founder of Cardano and co-founder of Ethereum, Charles Hoskinson believes that the addition of ADA is “the beginning of a great relationship.” He expects to extend throughout the upcoming years. He further added, “I’m so happy to see that announcement today. It’s been a long road. A lot of very hard work went into that.”
Coinbase Pro have also listed Polygon (MATIC), SushiSwap (SUSHI), and SKALE (SKL) on their platform last week.