Cardano (ADA) has officially begun trading at Coinbase. During its opening hour, someone even bought ADA for as high as $1.87 per piece.
ADA 1-hour chart since opening date (source: TradingView)
As shown above, Coinbase opened ADA buying and selling at $1.65. It went as high as $1.87 before closing at $1.35. Since then, the price has stabilized. At the time of writing, ADA price is at $1.26 at Coinbase.
Additionally, Coinbase announced the listing of ADA on its Coinbase Pro platform earlier this week. A lot of crypto traders met the news positively, causing it to immediately surge 20%. Before, ADA was barely trading over $1.
As a result, ADA reached its all-time high (ATH) price at $1.48 on March 18, according to CoinGecko.
This surge in ADA price is also timely, as Cardano blockchain recently performed its Mary hard fork. With this, blockchain developers can create their own unique tokens on the Cardano network. This way, they can find other viable options aside from the already-congested Ethereum blockchain. Last week, Cardano saw people mint at least 591 unique tokens.
In addition, Cardano creator Charles Hoskinson bullishly predicted that over 100 crypto companies will move from Ethereum to Cardano this year.
This article first published on coinquora.com
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Source: Cryptocurrency - investing.com
