Per a blog post, Coinbase will support ADA in all of its jurisdictions. In the meantime, the platform will only support Shelley addresses (One of Cardano’s addresses that starts with the prefix “addr1”). Later on, Coinbase will enable full support for the Byron (legacy) wallet.
The fast-paced rise of Cardano
The move came after several Coinbase users requested listing ADA to the platform, as Cardano looks to take a larger role in the DeFi space.
Recently the Bloomberg Terminal (a software program that provides financial data) added Cardano to its list of supported assets. The move called the attention of major investors, as the protocol soars in popularity every day. The Cardano community saw this as a greater step for Cardano and its role in the digital economy.
In a recent interview with Bloomberg, Charles Hoskinson, founder of Cardano, stated that since Mary Fork was successfully implemented in the network, at least 100 DeFi projects will ditch Ethereum and migrate to Cardano.
The fork became a significant upgrade for Cardano’s ecosystem, turning it into a multi-asset ecosystem, and providing lucrative opportunities for many protocols in the DeFi-space.
At the time of press, the price of Cardano is up 14% in the past hour.
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Source: Cardano (ADA) to launch on Coinbase Pro this Thursday, March 18th