ADA is used to send and receive digital funds with fast and direct transfers that are guaranteed to be secure through the use of cryptography, and it is currently trading at $0.107492
What if Coinbase lists ADA?
Coinbase during the heyday of Crypto-Assets had at least 50,000 users joining every day for close to a month. Currently there are over 13 million users, and this represents a huge market for coins to operate within. This is the reason why any coin experiences a bounce in value whenever there are rumours of its potential addition to Coinbase. For example, this is what led to ETC, BAT, ZRX and XLM to see an average of 45% increase to their value. Some might say once you’ve listed on Coinbase you know you’ve made your place in the Crypto world, and this also why a listing on Coinbase for ADA would massively increases its’ value
But in order for Coinbase to maintain its’ place as one of the top Crypto Exchanges with strong links to the everyday man they ensure any potential listings pass their extensive framework.
Nouvive has used Coinbase’s tracker to find out what Coinbase looks for in a coin. This is known as the Digital Asset Framework.
Coinbase have various factors that they look into but here we include the ones that are most important to a coins overall rating. We will see now if ADA makes the mark:
- Whether the code is open-source and tested by a third party?
- The Code is open source with several third-party audits of the code, and its’ security is emphasised by the fact that it is a Scala based client for Ethereum Classic.
- What Blockchain does ADA incorporate?
- They use their own blockchain, allowing others to also make use of the blockchain.
- Is ADA a security and will it affect Coinbase’s Compliance regulation
- ADA is not a security, combine this with the fact it has no privacy issues it will allow Coinbase to remain fully compliant.
- Is ADA Liquid and is it growing?
- The market capitalization of NEO is currently over $3.6 billion. There are currently nearly 26 billion of its coins circulation and this can grow to 45 billion. It is tradable on many exchanges, such as Binance, Huobi, Bittrex and Upbit, against Bitcoin, Ethereum, USD Tether, and some exchange coins. The 24-hour trade volume is $82.52 million in August 2018.
Nouvive and CACM Global Ranking for ADA
Nouvive through their partners CACM Global have found that according to their 10 Criteria’s, ADA has been listed as 77 out of 100. This is ranked according to Team, Technology, Market Sentiment and more. BTC has scored 60 as well as XLM as 55. Thereby illustrating how strong ADA is.
What Level should I buy in?
Nouvive has identified that the current level of Cardano/ADA is reflective of November 2017. The current price is at $0.10, the highest it saw was 0.72. Reflecting a 98% retrace.
Currently ADA is in a Bull flag, meaning that there is positive market sentiment towards it. That collated with the piece of data that it could be another potential listing for Coinbase could see ADA breach 0.15, all the way to 0.20.
During a positive season, ADA could see as we have identified $0.15, this reflective of 0.618 on the Fib line and where there are a lot of sells on the market.
Despite it currently only trading at less than $0.11 and with their being a lot of volume gaps all the way up to $0.125, means that this could be easily breached.
What’s your thoughts? Could ADA be listed on Coinbase?
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