Nothing can lift a currency up fast and higher with the news that a huge exchange will list or expand trading options. Only after an hour of notice on the official website of Binance that two more pairs of transactions, Cardano (ADA) has hit a 2-digit growth and leading the market.
Cardano was listed on Binance but can only be traded by BTC or ETH. Today, the Hong Kong Stock Exchange announced it will add two pairs of ADA / BNB and ADA / USDT trades. BNB is Binance's own coin and USDT is tether associated with USD. This allows traders to be more flexible in buying and selling ADA. This is good news for any altcoin that needs to separate the trade coin from Bitcoin.
Cardano increased after a quiet time
Cardano has had a bumpy year, falling sharply from its peak of $ 1.26 (8650 satoshis) on Jan 04 to its lowest level in 2018 at $ 0.13 (1740 satoshis) in March. The price decreased 90% (aproximately 80% compared to BTC) in less than three months. It was one of the worst performing Altcoin in March.
The ADA has been waited for a long time and finally, it rose up to 24% in just one day (according to Coinmarketcap). Cardano has increased from $ 0.21 to $ 0.27 and is trading strongly in Asian markets. This week, the ADA jumped more than 73% from $ 0.15 at this time last week. For Bitcoin, the ADA increased nearly 25% in one day to about 3300 satoshis, a weekly increased even better than the 50% compared 2200 satoshis this time last week.
Korea is leading with trading volume, for example Upbit dominates with about 65% of total trade with KRW. Binance is currently second with 20% of volume but this level is likely to increase with new trading pairs. Total ADA volume increased more than 300% in 24 hours from about $ 190 million to $ 813 million at the present.
Cardano has a market capitalization of $ 6.8 billion and ranked shortly after the EOS placed seventh at the time of writing. If the buying pressure continues, this altcoin may be in 6th place today. Long-awaited move to Cardano after China's largest trading platform Huobi announced it will list yesterday.