Cardano’s ADA will reach thousands of European users following its listing on Bitstamp next week. The news coincided with an increase of 5.6%
ADA, the native blockchain cryptocurrency Cardano, is preparing to debut on one of the oldest digital currency exchanges in the world and one of the largest in Europe.
Bitstamp, a Luxembourg-based cryptocurrency exchange founded in 2011, announced on Thursday this week that it is adding trading support for ADA. In a release, the platform welcomed the token of Cardano, which is currently listed as the sixth largest cryptocurrency by market capitalization.
“Good news for the Cardano Community: we are listing ADA“, Reported Bitstamp in a tweet to his 445,000 followers.
It’s finally happening – the 6th largest crypto by market cap powering @CardanoStiftung is ready to make its appearance on Bitstamp!
– Bitstamp (@Bitstamp) November 18, 2021
According to the official statement, the platform will open the option to deposits and withdrawals with the currency next Tuesday, November 23; although the trade with ADA will not be enabled until a few days later. On Wednesday, users of Bitstamp they will be able to start placing and canceling limit orders and later they will begin to execute the operations.
The adoption of the token of Cardano You will see three new trading pairs arrive on the exchange: ADA / Bitcoin, ADA / euros and ADA / US dollars. Cryptocurrency trading will go live when the exchange have sufficient liquidity.
Once the order books are sufficiently liquid, we will also enable all types of orders and card purchases for the new trading pairs.
Cardano’s technological evolution continues
The measure of adoption by Bitstamp could help drive adoption of token, now that ADA will be available to thousands of traders on one of the most popular and long-standing crypto platforms in Europe. The company was founded in 2011 as a Europe-focused alternative to the then-dominant exchange of Mt. Gox bitcoins, and since then it has positioned itself as one of the largest cryptocurrency exchanges on the continent by trading volume.
ADA’s entry into the European platform comes in the midst of what has been a year of significant growth for the project Cardano. The technological evolution of the rival blockchain platform to Ethereum has generated great expectations this year following the launch of the smart contract functionality.
Upon deployment, the decentralized ecosystem of DeFi, NFT and DApps of Cardano it has begun to flourish in an accelerated way. The project has also drawn attention for its agreements with African countries to deploy the technology. Blockchain in various solutions for the population of that continent, including a new digital identity system.
The exciting evolution of the project has also driven up the price of ADA. For September of this year, the token registered an annual increase of more than 3,000% after reaching a historical price maximum of USD $ 3. Although more recently the uptrend has slowed, the cryptocurrency is still trading within a relatively high range, around $ 1.88.
The development around Cardano moving forward despite ADA investor sentiment appearing to have cooled in recent months. A few days ago we reported that Ardana, the ecosystem for the design of stablecoins of Cardano, raised $ 10 million in an initial investment round. Among other related news, IOHK, the technology development company behind Cardano, announced this week the launch of a new version of the wallet Daedalus.
OUT NOW: #Daedalus 4.5.0
Daedalus 4.5.0 for the #Cardano mainnet has an improved voting screen layout, which now includes continuous registration for #ProjectCatalyst and footer links. The update also adds a pool over-saturation warning. pic.twitter.com/HKrvm28lG8
– Input Output (@InputOutputHK) November 18, 2021
Hannah Estefanía Pérez’s version / DailyBitcoin
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