Cardano soon available on Coinbase Pro! ADA promptly pumps up 22
Coinbase Pro will list ADA and open incoming transfers for the asset before full trading begins on March 18.
Coinbase announced on 16 March that it has opened inbound transfers for ADA, marking the first step in the multi-step process to list the token.
Full trading will begin on 18 March, once sufficient liquidity is available. It currently only supports withdrawals to Shelley addresses, Byron addresses will be supported soon.
Once liquidity is established, the order books will go through post-only, limit-only and full trading phases. This is likely to take a few days.
Listings on Coinbase Pro are usually followed Cryptosoft by a listing on the retail investor version of Coinbase. This would be a big step up for ADA (to buy Cardano guide). Coinbase has a strong presence in the United States.
Cardano recently underwent a major upgrade to its network, which has helped drive the price to new highs. In the last 24 hours alone, the coin has risen 22% – and investors are expecting further rises with the Goguen upgrade, which is due to be released soon. It was also recently added to the Bloomberg Terminal.
Goguen intends to make the Cardano network a haven for dApps – something it currently lacks. Ethereum (to buy Ethereum guide), on the other hand, has several dApps with large user bases.
This has been one of the main criticisms of Cardano – although it looks like these doubts may soon be dispelled.
Coinbase lists more assets, prepares for IPO
Coinbase has listed several assets in recent months, including many in the DeFi space. These include SushiSwap (SUSHI), Aave (AAVE), The Graph (GRT), and Bancor (BNT).
Coinbase will go public directly this month, opting for a direct listing as opposed to an IPO. Direct listings are cheaper, faster and avoid share dilution.
This comes at a time when several crypto companies are looking to go public.
The exchange was valued at $90 billion after the last round of private auctions, putting it far above the rest. When Coinbase goes public, it will do so under the ticker „COIN“.