Cardano (ADA) was one of the coins that made the most of Sunday's alpine flurry, largely driven by speculation about two possible future developments.
Treveis Coinbase Shootout
The first is the idea that Cardano may be the next coin listed on Coinbase. After the last note of the Basic Attention Token (BAT), only three coins left among the coins coins that Coinbase announced that they "explored".
Cardano now has at least one of three chances to be next on Coinbase. Of the two other possibilities, Stellar (XLM) and Zcash (ZEC), nobody really knows who, if anyone has the benefit.
Until now, the methodology has been linked to the ERC-20 standard. With the listing of Ethereum Classic (ETC) earlier this year, Coinbase announced that they were more technically able to handle ERC-20 tokens, given their previous experience with Ethereum.
Following ETC, the entries of the OX (ZRX) and the Basic Attention Token (BAT), which rounded the ERC-20 options. Now we are only in speculation ̵
"Looks like we can confirm $ ADA # Cardano is going to be next on #coinbase. Insider ?? "
Both Stellar and Zcash saw positive percentage gains while Cardano climbed on Sunday, although it did not match the gain from ADA.
Cardano Based Exchange?
Another positive development that may have seen speculators take a chance at Cardano is the new circulating news that ADA can be the currency of entry on its own exchange.
The news from the IronX exchange occurred only in June, where the detailed idea of building an entire exchange ecosystem, linked together. According to the introductory announcement:
"IronX is an encryption exchange exchange that will help bridge the world through exchange rate and crypto trading, by facilitating traders of both types to move their positions between the various asset classes. This will enable crypto investors to diversify into the traditional investment world, as well as provide an easy and safe way for non-crypto investors to explore the world of tokens. "
The exchange is being built in collaboration with EmurgoHK – One of the development groups behind the Cardano protocol. The assumption was that ADA would be employed as the gateway currency on the exchange.
All this suddenly came into the news again this week when IronX ICO began. After launching November 1, the $ 18 million soft cap has already been violated and over $ 22 million has increased.
ADA / USD Responds
From daily made at $ 0.71291, ADA managed to $ 0.77307, with the peak arriving around 17:00 UTC. The resulting slowing momentum dropped the price back to the $ 0.76 series, but still marks a healthy return over twenty four hours.
ADA volumes more than tripled, from $ 14 million to $ 50 million, but much of it comes from transactional recovery on the ZBG exchange – an exchange that only handles the transaction mining industry.
Disclaimer: The author owns bitcoin, Ethereum and other crypto curves. He has investment positions in the coin, but does not engage in short-term or day-trading.
Selected photo titled Shutterstock.