Cardano Nears All-Time High With Renewed Retail Interest

Cardano nears All-Time High with renewed retail interest. With the rise of retail interest in the asset, Cardano(ADA) seems to soar nearing all-time high on March 18. It hit a price of $1.47 on March 18, which was viewed on the TradingView for Kraken exchange. The price very close to its $1.48 all-time high that was on February 27.

The 1-hour chart shows upward trend line where the asset made higher lows. Currently its price sits near $1.32, although on its recent downward move, ADA did not fall far enough to hit the 200 period MA.

Source: TradingView

The price increase seems to have followed a March 16 announcement from Coinbase, stating it would be listing ADA to its Coinbase Pro platform.

Cardano (ADA) is a blockchain platform built on an Ouroboros protocol, which is a proof-of-stake consensus protocol that validates transactions, without high costs. Cardano uses the Haskell programming language, which, according to Cardano’s blog enables Cardano “to pursue evidence-based development for unparalleled security and stability.” The native token ADA is named after the 19th-century mathematician, Ada Lovelace. It supports assets like SushiSwap, Aave, and others

A Coinbase Blog post also announced on March 19 of adding Cardano to the Coinbase.com application. As the blog says:

Coinbase supports Cardano (ADA) at Coinbase.com and in the Coinbase Android and iOS apps. Coinbase customers can now buy, sell, convert, send, receive, or store ADA. ADA is available in all Coinbase-supported regions.

Source: Cointelegraph | Image: freepik.com

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