Coinbase Pro lists ADA, trading to commence tomorrow

Coinbase Pro adds support for Cardano’s ADA and will start trading support for the cryptocurrency tomorrow if a sufficient supply of the coin is established on the platform

Coinbase Pro said that it now supports Cardano’s ADA and will commence trading for the cryptocurrency on its platform once it establishes sufficient supply. ADA has been performing excellently in recent weeks, thanks to the various updates carried out by Cardano’s development team.

The cryptocurrency exchange told users in a blog post that they can fund their Coinbase Pro accounts with ADA. “Starting today, Tuesday, 16 March, transfer ADA into your Coinbase Pro account ahead of trading. Support for ADA will be available in all Coinbase’s supported jurisdictions. Trading will begin on or after 9 AM Pacific Time (PT) Thursday, 18 March, if liquidity conditions are met”, Coinbase Pro added.

The platform added that it would support withdrawals to addresses on the Cardano network’s decentralised Shelley hard fork. It is working on supporting withdrawals to addresses using the previous Byron version. Coinbase Pro will make withdrawals to those addresses soon.

The crypto exchange will support various ADA trading pairs, including ADA-USD, ADA-BTC, ADA-EUR and ADA-GBP. In recent months, Coinbase Pro listed several cryptocurrencies including; SushiSwap (SUSHI), Polygon (MATIC) and SKALE (SKL), Aave (AAVE), Bancor (BNT), Band (BAND), Synthetix (SNX), NuCypher (NU), Maker (MKR), Wrapped Bitcoin (WBTC), Balancer (BAL), Ren (REN), Uniswap (UNI), The Graph (GRT), yearn.finance (YFI), Filecoin (FIL), Loopring (LRC), UMA (UMA), Celo (CGLD), Numeraire (NMR), Compound (COMP) and OmiseGo (OMG). It hopes to add more cryptocurrencies to its trading platform as soon as they meet the required standards.

Cardano is one of Ethereum‘s main rivals, and it surged by 274% in February. ADA is currently the third most valuable cryptocurrency, surpassing Binance Coin (BNB), Polkadot (DOT), Ripple (XRP), Bitcoin Cash (BCH) and Litecoin (LTC).

ADA is trading at $1.27 per coin at press time, up by 25% over the past 24 hours. Coinbase said ADA is only available on Coinbase Pro at the moment. The exchange will announce if the cryptocurrency becomes available on Coinbase.com and the consumer mobile apps.