Cardano (ADA) skyrockets 20% after Coinbase Pro adds it to their platform

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Cardano’s (ADA) price jumped nearly 20% after it was announced that Coinbase Pro, a US-based exchange, would list the asset on its website if liquidity conditions are met.

Coinbase, the world’s largest cryptocurrency trading platform, has reported the addition of Cardano (ADA), the fourth-largest digital asset by market cap, to the Coinbase Pro edition. Trading will begin “on or after” 9 a.m. Pacific Time on Thursday, March 18th. Inbound transfers are already available.

Coinbase Pro users will be able to buy, sell, and store one of the most common digital assets recently – ADA, according to a statement released by the San Francisco-based crypto giant earlier today.

Trading will begin on or after 9 a.m. PT on Thursday “if liquidity requirements are met,” according to the release.

This implies that ADA would need a sufficient supply to be built on the trading platform. Coinbase Pro will then sell several trading pairs, including ADA/USD, ADA/BTC, ADA/EUR, and ADA/GBP. Post-only, limit-only, and full trading order books will be available in three levels.

If one of the order books fails to meet Coinbase’s requirements for a “safe and orderly market,” the firm said it can “keep the book in one state for a longer period of time or suspend trading.”


It’s important to note that ADA is only available on Coinbase Pro, not Coinbase.com or any of the mobile apps. The company will make additional clarifications once those are enabled.

Furthermore, Coinbase Pro will initially only allow withdrawals to Shelley addresses (starting with addr1), with full support coming “shortly.”

Despite the fact that ADA’s listing comes with a number of caveats, the news had an immediate positive impact on the asset’s price. It began trading at $1.07 before exploding by nearly 20% to a daily high of $1.26. The excitement has subsided somewhat, and the cryptocurrency is currently trading at $1.22 as of this writing.

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