Cardano is the highly sought-after cryptocurrency that rose to fame in a matter of days after the Coinbase Pro listing. Currently, Cardano has managed to acquire a ranking of 3rd most traded cryptocurrency in the world. Coinbase Pro is a well-known crypto exchange platform where high net worth investors and whales are registered in concentration. Cardano has started to be traded on Coinbase today and, within a few hours, have achieved a new all-time high of $1.88.
Cardano creator and co-founder Charles Hoskinson are quite enthusiastic and optimistic about the future of its native cryptocurrency, ADA. Hoskinson plans to introduce more upgrades like Proof of Stake (PoS), Mary hard fork, and off-chain protocols. Cardano is called the third-generation cryptocurrency and has already earned the nickname of Ethereum killer in the crypto-verse. After YTD (year-to-date) 7,400% appreciation, ADA has managed to climb a peak of 39 percent on platforms like Binance and Coinbase Pro.
Cardano, All Set to Revolutionize and Take Hold of African Developing Economies
Cardano has had a big presence in Africa for years. In 2018, this organization signed an MOU with the Ethiopian Government to introduce the use of blockchain technology in the agriculture sector. Hoskinson compares the Africa of today to China of the 80s. In a media brief, he expressed his optimism about the great development potential of the African markets. According to him, there is no money in Africa, but the resolution of its systemic problems could invoke a progressive revolution in the continent.
In his other media briefs, Hoskinson has expressed an interest in using Cardano to run countries. Currently, Cardano’s parent organization IOHK is collaborating with the governments of Kenya, Ethiopia, Kenya, Nigeria, and other major African economies. The IOHK CEO plans to grow the Cardano ecosystem by millions through Atala PRISM. Atala PRISM is a crypto-based digital identity management solution sponsored and created by Cardano and IOHK for African markets.
More Support for Cardano from Platforms like Bybit
Coinbase Pro is not the only trading platform that is offering Cardano. As ADA has reached the position of top rankings in the crypto markets, coming 3rd only after Bitcoin and Ethereum, other major platforms have also started to introduce it for their users. The CEO of Bybit has listed ADA and two of its allied blockchains, including PolkaDot and UniSwap, recently. Bybit is a major crypto derivatives trading platform based in Singapore.
Unfortunately, US-based citizens are currently unable to access Bybit. In 2020, Bybit imposed a ban on its US-based clientele after the SEC, Futures Trading Commission of U.S., and the USA’s justice department filed a lawsuit against its competitor BitMEX. However, Ben Zhou, CEO, and co-founder of Bybit, is positive that these three crypto-assets would contribute significantly to the platform’s high-liquidity rate. UNI and DOT, the native cryptocurrencies of Uniswap and PolkaDot, have also managed to climb up to the top 10 cryptocurrencies ranking bracket.