Coinbase Pro, Coinbase’s platform for experienced and professional traders, announced around 17:00 UTC on Tuesday (March 16) that it will soon be listing Cardano’s ADA token.
At this time Coinbase Pro only supports withdrawals to Shelley addresses (addresses that begin with addr1). Full support for all Cardano addresses (Byron & Shelley) will be enabled shortly. Learn more here https://t.co/xS2Hkd9hwh
— Coinbase Pro (@CoinbasePro) March 16, 2021
According to Coinbase’s blog post, Coinbase has already stated accepting inbound transfers of ADA to Coinbase Pro, with trading due to begin on or after 16:00 UTC on Thursday, March 18, providing that “liquidity conditions are met.”
According to data by TradingView, on crypto exchange Kraken, around 17:39 UTC (about 38 minutes after Coinbase’s announcement came out), the price of Cardano’s ADA token reached 1.2800, which is currently its intraday high and the highest it has been since March 2.
Per data by CryptoCompare, currently (as of 18:05 UTC), ADA is trading around $1.200, up 5.38% in the past 24-hour period. In the year-to-date (YTD) period, ADA is up 560.42%.
Crypto analyst Michaël van de Poppe had this to say about Cardano’s price action:
Posted earlier today that $ADA was on support and support held as we're up 25%.
Technical analysis is great. pic.twitter.com/Y2m89QK2Yw
— Michaël van de Poppe (@CryptoMichNL) March 16, 2021