The crypto-market activities began in green form last Friday, as most of the cryptocurrencies that exchanged that time were in the green, while increasing in minimum percentages. One of the cryptocurrencies that undergo regular activity since then is Cardano (ADA).
At the time of writing, Cardano has a price of $ 0.085 with a market capitalization of $ 2,213,223,331. In the last seven days, Cardano (ADA) has recorded a market surge of over 10%. So this is good news for Cardano users because their token has increased its value and reach. However, it is essential to know that Kraken is only a small addition since exchanges such as Binance and UpBit have a larger share of the trade volume of over 20%.
We know that in recent weeks Cardano (ADA) has not been at its best since it was previously trading at $ 0.07. And as it seems, its recent price stabilization is basically due to the fact that it is currently listed on the Kraken Exchange. Cardano (ADA) has started to negotiate on Kraken with QTUM (QUTUM), and the "big" news has pushed both cryptocurrencies.
The list of Cardano on Kraken gives the possibility and access to fiat trading pairs and digital resources as it will be traded with Bitcoin, Ethereum, USD, etc.
It is important to know that Kraken is a cryptocurrency trading company based in the United States. The exchange works in countries such as Canada, Europe, Japan and the United States. Kraken is also an important crypto-exchange. It has a daily volume of $ 160 million and is fully supported in Europe.
The crypto-exchange platform has decided to add Cardano and QTUM to its platform to enhance its network. It's good news for both the exchange company and the digital resources listed above.
Kraken announced this in an official blog post:
"We are pleased to announce that Kraken will list two new digital resources: Cardano (ADA) and Quantum (QTUM) "
The timing for trading and financing begins
Both the financing and the trading will be immense at the same time for both digital resources. The estimated global launch time is:
Friday, September 28th at 6:00 am – PST
Friday, September 28th at 09:00 – EST
Friday, September 28th at 1:00 pm – UTC
Friday, September 28th at 3:00 pm – CEST
Friday, September 28th at 9.00pm – HKT
In addition, Kraken is also making progress in the sphere of cryptocurrency, while he has responded through his official Twitter page to the proclamations of Barbara D. Underwood, New York Attorney General. The exchange tweeted,
Thanks to the New York tax payer for funding this research, we've saved a lot of time on our Product team and we've got some interesting non-public information about our competitors. Excellent overview of the problems and a nice list of "Questions that customers should ask" on p. 32. https://t.co/S5XxopBEyC
– Kraken Exchange (@krakenfx) 19 September 2018
Technically, Cardano has seen declines in the last three months, but following the quotation news on Kraken, it rebounded on the channel; currently, there is a pullback at the FIB level of 61.8% or at the bottom of the channel again. His MACD has become bullish, so a small withdrawal is probably what is needed to push this digital currency higher in the next move.
In the past, there have been some bullish forecasts that ADA will reach $ 1, but the downward trend in the market has significantly affected its price. With the quotation Kraken and other recent developments related to cryptocurrency, we hope that there will be some positive changes in the price of Cardano (ADA) very soon.
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Disclaimer: this article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and / or its affiliates, employees, writers and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own in-depth research before investing in any cryptocurrency and read our full disclaimer.
Photo by Chris Barbalis on Unsplash