By Solomon Odunayo
Coinbase Pro, the platform that offers users the ability to trade a variety of digital assets securely, has announced that Cardano (ADA), the fifth-largest cryptocurrency by market capitalization, is set to launch on its trading platform.
The latest development was passed across via the official Twitter handle of the trading platform. According to the report, trading of Cardano (ADA) will officially start on 18th March 2021 at 9 AM PT for users in regions where trading is supported, if the cryptocurrency meets liquidity conditions.
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Coinbase Pro tweeted, “Starting today, inbound transfers for ADA are now available in the regions where trading is supported. Traders cannot place orders and no orders will be filled. Trading will begin on or after 9AM PT on Thursday March 18, if liquidity conditions are met.”
Starting today, inbound transfers for ADA are now available in the regions where trading is supported. Traders cannot place orders and no orders will be filled. Trading will begin on or after 9AM PT on Thursday March 18, if liquidity conditions are met. https://t.co/ANisazZsh7
— Coinbase Pro (@CoinbasePro) March 16, 2021
The exchange added that “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.”
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Additional Information about Trading Cardano (ADA) on Coinbase Pro
The report says that once the sufficient supply of ADA is realized on the platform, trading of five pairs, including ADA-USD, ADA-BTC, ADA-EUR, and ADA-GBP, will go live as slated.
The trading platform noted:
“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.”
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Cardano (ADA) in the Market
So far, Cardano (ADA) has reacted positively to this big announcement.
At the time of writing, Cardano (ADA) is trading at $1.20, with a relatively 16% price upsurge in the last 24 hours.
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