ADA has a had major pullback since it reached its all time high at $1.46 on February 27 and is currently trading at around $1.22 after a major 20% price increase in the last 24 hours. The reason for this increase is the launch of Cardano (ADA) on COINBASE Pro. As per the announcement, trading will commence as soon as March 18 if the liquidity conditions are met. Even though this is an extremely bullish indicator, it is important to keep in mind that it has still not been listed on Coinbase.com which is different from Coinbase Pro. Coinbase.com is more of a brokerage which lets users buy cryptocurrency using fiat currency while Coinbase Pro is more of an exchange letting investors buy and sell from each other.
Price Prediction
This is a momentous day in the history of ADA and we could see it reaching its all time highs pretty soon given that trading on Coinbase Pro begins on March 18 which might coincide with a majority of the population in the USA receiving their stimulus checks leading to a huge infusion of money into the cryptocurrency space. Cardano, with all the hype and excitement around it, could be one of the major beneficiaries of such an infusion.
If Cardano gets listed on Coinbase.com after getting listed on Coinbase Pro, the price of Cardano could absolutely moon in my opinion. This is a very likely outcome given that both Polygon (previously MATIC) and Sushiswap got listed on Coinbase.com after getting listed on Coinbase Pro and their price skyrocketed after being listed on Coinbase.com. Since Coinbase.com is the most used exchange by people in the USA to buy and sell cryptocurrency, that listing would be instrumental in Cardano (ADA) breaking price levels.
In my opinion, the next weeks could be very exciting for ADA Hodlers and this would be a good time to accumulate ADA while it is still relatively cheap.
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The views and opinions expressed here are solely of the author. Every investment and trading move involves risk and it is necessary that you conduct your own research before making any decisions.
