Coinbase Pro Lists Cardano (ADA), Triggering 20% Surge and Boosting Market Cap

Coinbase Pro Lists Cardano (ADA), Driving Market Momentum

Coinbase Pro has officially added Cardano (ADA) to its expanding list of supported assets, triggering a surge in the token’s value. According to a March 16 blog post, Coinbase launched inbound transfers for ADA, signaling the start of a multi-phase listing process. The platform plans to enable full trading of ADA pairs, including ADA/BTC, ADA/USD, ADA/EUR, and ADA/GBP, beginning March 18, once sufficient liquidity is established.

Cardano’s Journey to Coinbase Pro

Cardano, a blockchain platform utilizing a Proof-of-Stake (PoS) consensus mechanism, enables energy-efficient transaction validation. The Coinbase Pro listing marks another milestone for the ADA token, as it continues to gain traction in the cryptocurrency space.

Key Listing Details:

1. Supported Withdrawals: Currently limited to Shelley addresses starting with “addr1,” with plans to support Byron addresses in the future.
2. Trading Stages: ADA order books will move through post-only, limit-only, and full trading phases, likely taking several days.
3. Expansion Goals: The listing is part of Coinbase Pro’s strategy to expand its order book offerings, having recently added SushiSwap (SUSHI), Polygon (MATIC), and SKALE (SKL) to the platform.

Cardano’s Market Impact

The announcement of ADA’s listing on Coinbase Pro was a significant catalyst, driving a 20% spike in the token’s price. According to CoinMarketCap data, Cardano now boasts:

• Market Cap: $38 billion
• 24-Hour Trading Volume: $8 billion
• Rank: Fourth-largest cryptocurrency by market cap

In February, ADA briefly ranked as the third-largest cryptocurrency, trailing only Bitcoin and Ethereum. This recent listing on Coinbase Pro could pave the way for further growth and adoption.

Bloomberg Terminal Adds Cardano

In addition to the Coinbase Pro listing, Bloomberg Terminal—a leading financial market software—has added Cardano (ADA) to its platform. This inclusion provides financial professionals and analysts with real-time data and trade capabilities for ADA, further legitimizing its position in the global financial ecosystem.

Coinbase’s Upcoming Public Listing

Coinbase’s listing of Cardano comes at a time of heightened activity for the exchange itself. The company is preparing to go public via a direct listing later this month, opting for a cost-effective alternative to a traditional IPO.

Key Coinbase Listing Highlights:

1. Ticker Symbol: ‘COIN’
2. Valuation: Estimated at $90 billion during private auctions.
3. Market Timing: Coinbase’s listing coincides with Bitcoin’s rally, which recently saw the cryptocurrency surpass $61,000.

As one of the largest cryptocurrency exchanges globally, Coinbase’s move to go public underscores the growing integration of crypto assets into mainstream financial markets.

Cardano’s Role in the Broader Crypto Ecosystem

Cardano’s blockchain is lauded for its scientific approach, scalability, and sustainability, distinguishing it from competitors. Key features include:

1. Energy Efficiency: The PoS consensus protocol significantly reduces energy consumption compared to Proof-of-Work (PoW) blockchains like Bitcoin.
2. Shelley Upgrade: Allows the network to operate fully on the PoS mechanism, enhancing decentralization and scalability.
3. Future Potential: Cardano’s robust infrastructure positions it as a key player in decentralized finance (DeFi) and smart contract development.

What This Means for Investors

Coinbase Pro’s listing of Cardano signals strong market confidence in the token’s potential. As ADA gains exposure on one of the most trusted cryptocurrency exchanges, it is likely to attract institutional and retail investors. The 20% price surge following the announcement demonstrates the immediate impact of exchange listings on token valuations.

Conclusion

The addition of Cardano (ADA) to Coinbase Pro represents a significant step forward for the token and the platform. As ADA solidifies its position as the fourth-largest cryptocurrency, its energy-efficient blockchain and growing adoption highlight its potential to reshape the crypto landscape.

With Coinbase’s upcoming public listing and Bitcoin’s continued rally, the crypto market remains at the forefront of financial innovation. The inclusion of Cardano in both Coinbase Pro and Bloomberg Terminal signals growing institutional interest, setting the stage for a promising future for ADA.

To learn more about the innovative startups shaping the future of the crypto industry, explore our article on latest news, where we delve into the most promising ventures and their potential to disrupt traditional industries.