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Following the sudden addition of Stellar XLM to the US-based Coinbase US Cryptocurrency Exchange, investor interest was quickly focused on Cardano ADA.
While the entire sector is recording a surge in prices, with Bitcoin setting a new record at 4000 USD for the third time in 2019, the eleventh largest currency by market capitalization, Cardano has managed to outpace the rest of the market.
Part of the ADA's price action is fueled by the dynamism of the rest of the market, with most coins recording a double-digit appreciation since the beginning of the year – a welcome change from the spiraling spiral of 2018. However, many investors are also investing in Cardano from FOMO and expect another listing from Coinbase, with ADA being the last in a long-awaited group to be added to the stock market.
In July 2018, Coinbase ad Exploration into five new crypto-currencies for listing, responding to one of the most common customer complaints that the stock market bid was too limited. Cardano is the only piece that does not yet appear on the five pieces initially described in this update.
Although Stellar XLM and Cardano ADA were at the time the most popular and favored choices for Coinbase, it is surprising that they are the last two pieces to consider – ADA is still waiting for integration. However, both parts offer significant benefits to users of Coinbase and the crypto industry. Stellar has been at the forefront of non-profit engagement on cryptocurrencies and targets the unbanked populations of developing countries.
Cardano, similar to Ethereum, seeks to create a network of use of block chains that goes beyond cash transfers. Under the direction of the CEO of IOHK and former co-founder of ETH, Charles Hoskinson, ADA has managed to spark some interest in 1.5 years of availability in the open market.
However, the current rush of ADA investors would be wise to consider Coinbase's position. Although the exchange seems determined to increase its selection of cryptocurrency at a faster pace than in the past, there is no guarantee that Cardano will soon be in Coinbase. Investors base their decision on the fact that XLM followed the XRP listing a few weeks in place of the months that had traditionally elapsed between Coinbase listings.
Although Coinbase announced in December its intention to add hundreds of new currencies (the XRP being one of the possible parts), some community members feel that Ripple paid for the coin to be added to l & # 39; exchange. On the one hand, the timing was right for Ripple and XRP, giving the currency a positive boost after J.P. Morgan announced JPM Coin. And, as other badysts have pointed out, XRP viol Coinbase's guidelines for the registration of new currencies through Ripple's majority interest in the coin.
That being said, investors are trying to make the most of Coinbase's FOMO and enthusiasm for the new coins, given the weakening we've seen over the last year of the influence of the exchange on prices of crypto-currencies.
Image title courtesy of beatingbetting.co.uk
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