OKEx crypto exchange adds support for Cardano (ADA): Price reaction muted
|- Cardano is now available in ADA/USDT, ADA/OKB, ADA/BTC and ADA/ETH trading pairs on OKEx.
- Cardano price bullish momentum lost steam short of $0.20, but the downside is supported at $0.170.
According to the data on CoinMarketCap, Cardano’s trading volume has increased by 76.89% in the last five days. Similarly, the spike is also reflected in the cryptocurrency’s market capitalization which rose from $3.5 billion to $4.6 billion in the same period. Cardano is the 8th largest digital asset in the market and has a total coin supply of 31,112,483,745 ADA while the circulating supply stands at 25,927,070,538 ADA. The crypto is trading at $0.176 at the time of press, although it changed hands slightly above $0.195 on Wednesday 18.
In the latest news related to Cardano, OKEx, the world’s second largest cryptocurrency exchange has added support for ADA as a tradable instrument. The announcement was made on Friday 20 and it reads:
“We are pleased to announce that Cardano ( ADA ) is now listed on OKEx. Please take note of the following go-live schedule: 1. ADA deposit - 16:00 Jul 20 (Hong Kong Time, UTC +8) 2. ADA spot trading (USDT, OKB, BTC, ETH Market) - 16:00 Jul 23 (Hong Kong Time, UTC +8) 3. ADA withdrawal - 18:00 Jul 24 (Hong Kong Time, UTC +8)."
Coinbase announced its intention to list Cardano and a few other cryptocurrencies last week. However, the listing on Coinbase could take months to come.
Cardano has slowed down the momentum that started this week. It failed to break above $0.20 but is supported at $0.170. The listing on OKEx could put some life into the bullish trend and push Cardano beyond $0.20, however, price reaction is still muted.
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