If you are a holder of crypto you might in the future come to recognize the 16th March 2021 as one of the most significant days in its history. Coinbase has finally announced that they will list Cardano and it will be possible to trade with the cryptocurrency on their exchange site.
Many observes in the crypto space wondered what would need to happen for this day to arrive since the price of Cardano in Feb surged so much that in terms of market cap only Bitcoin and Ethereum were ahead of them. Some speculated that the next scheduled release from Cardano, Goguen could be the thing that would persuade Coinbase to make this decision but thankfully the news today has come as a welcome surprise. Maybe this news is the ‘birds’ Hoskinson was referring to?
Why Is This Important?
Well, in terms of investing this will make a world of difference as so many more people now will have the chance to invest in Cardano. Imagine the scenario where a casual crypto investor has a Coinbase account and would like to invest in some Cardano but they realize they have to look elsewhere if they want to purchase some.
In most cases, the casual investor would decide against it as they would understandably buy crypto on a platform they are familiar with. Now, this won’t be a problem and when the price of Cardano surges in the future it will in no doubt be amplified by the amount of liquidity available on Coinbase.
For the project itself, Charles Hoskinson and his team can continue their good work and let the markets do their own thing. The most attractive quality of Charles in my own opinion is that although he states that the price doesn’t motivate him because he is ‘here to change the world’ he clearly recognizes the investment side to crypto and appears to revel in the success of people who believed in the project when the market cap was below $1 billion.
The News Has Already Made The Price Of Cardano Shoot Up
If you happened to not check your phone for an hour or two you would have been very surprised to return to see that the price of Cardano went from hovering between $1 and $1.05 to go all the way up to $1.25. The price has declined a little bit for now and It would be impossible to guess where the price could settle when this news has settled down.