Coinbase Pro adds Cardano (ADA), which shoots 18%

Charlie Taylor

As of this Tuesday (16), Coinbase Pro, the platform of the largest exchange in the United States, began adding support for Cardano (ADA) transactions. According to the official announcement, negotiations will open on the 18th "if liquidity conditions are met".

Starting today, Tuesday, March 16, transfer the ADA to your Coinbase Pro account before trading. Support for ADA will be available in all jurisdictions supported by Coinbase. Trading will begin at 9 am Pacific Time (PT), Thursday, March 18, if liquidity conditions are met, the publication states.

During the 2020 Shelley Summit, it was reported that “Within the Q4-2020 timeframe (4th quarter of 2020), some users could stake their ADAs from within Coinbase's cold storage solution.” With the announcement, it created there is an expectation that Coinbase would start trading the ADA as early as last year.

Development of Cardano

Cardano has been advancing in its development while its third phase of implementation, the Goguen phase, focused on the development of smart contracts, is implemented. According to Marcus Vinícius, Cardano's ambassador to Brazil:

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Regarding the Cardano project, it is expected that it will be fully decentralized in terms of block production by the end of this month. This may have contributed to the ADA listing on Coinbase Pro.

“Cardano has been advancing in the scope of its smartcontract phase (Goguen). He has already delivered 2 forks out of a total of 3 forks related to smart contracts. The estimated delivery of the last fork is around Q2 / 2022. This last fork should make it possible to develop dApps in mainnet. Another positive point is its governance and treasury system. He has been conducting rounds of funding every 6 weeks, making experience improvements available to users. “According to Coingolive, ADA has skyrocketed 18.01% in the last 24 hours at a time when several cryptocurrencies, including Bitcoin and Ethereum, are experiencing daily losses. Be sure to check out our episode of the Satoshi Connection with Sabrina Coin and Marcus Vinícius, Cardano's ambassadors in Brazil. Read more: Retail investors are buying more bitcoin than institutional, says JPMorgan

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