Cardano’s ADA token is now available to the Coinbase retail traders after being listed on Coinbase Pro. It has caught the investors’ eyes since the time Coinbase pro added the currency on its platform.
The news of Cardano coming to Coinbase has resulted favorably in the price of ADA. It was up by 16% just after this news. Cardano’s ADA’s current market price is $1.25, with a market capitalization of $39.85 billion. It has a 24-hour trading volume of nearly $5.59 billion.
The native crypto of Cardano recently broke its all-time high marking a price of $1.30 that made it the third-largest crypto in terms of market capitalization. Cardano was launched in 2017 backed by business venture Input-output Hong Kong. It was created by the co-founder of Etherem, Charles Hoskinson, as a competitor to Ethereum Blockchain. Recently it has surpassed Binance’s BNB and Tether (USDT) and became the third-largest crypto.
Cardano is commonly referred to as a third-generation cryptocurrency by investors and analysts. These third-generation cryptos learn from the first and second-generation cryptos, namely, Bitcoin and Ethereum, to improve their shortcomings by utilizing new developments such as layered architecture. These improve the security, sustainability, and scalability to create more usefulness and rectify the inefficiencies.
Cardano’s developers seek to restore trust in the economic systems across the globe by their integrated technologies. It aims to provide a more transparent and secure way to conduct business. Another goal of Cardano is the help stabilize the dApp sector.
If you are planning to invest in ADA, you can do so on many exchange platforms, including Binance, which is the most effortless exchange to join and trade. There are three popular ways to store the ADA, i.e., a desktop wallet, a hardware wallet, and a mobile app.
Cardano depends on the academic sector because its design was built using evidence-based methods grounded in academic theory and scientific philosophy. There are still some people who pointed out the Cardano network’s potential issues despite its heavy reliance on academics. But, provided its huge growing network, we can say that ADA will remain a safe option to trade for coming years. It indeed has a unique approach and technological advancement that will keep it a hot topic within the blockchain sector.