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Cardano’s ADA added to Coinbase Pro in time for founder Charles Hoskinson’s ‘Africa Special’ keynote
Crypto at a glance
It was another flat day for the crypto markets. Bitcoin is still changing hands at around the $55,000 level, while the Ether price has also scarcely moved, seemingly content to drift along at around $1,800.
The story is much the same elsewhere too, with smaller caps all relatively stable over the last 24 hours. Not a double digit move in sight – it’s all a bit boring, really. Is a bigger move on the cards soon?
The only real shining light yesterday was Cardano, buoyed by the news that Coinbase Pro is adding support for ADA. The announcement saw the so-called Ethereum-killer soar over 17% to $1.23 in a matter of hours, although it’s still some way short of its all-time high from last month of more than $1.40.
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Stimulus passes as Bitcoin marches on
Crypto at a glance
Bitcoin extended its winning streak yesterday, soaring to more than $56,000 before a pullback last night took it back down to just below the $55,000 level, where it is currently trading.
The move came after the US House of Representatives on Wednesday passed a $1.9 trillion coronavirus relief bill that will see many US citizens get a $1,400 cheque in the post – a measure that some speculate will drive up inflation and showcase Bitcoin’s key attributes as a deflationary asset.
It could also create an influx of demand, similar to the $1,200 stimulus cheque last year. That cheque would now be worth over $10,000 if invested in Bitcoin.