On Tuesday, soon-to-be-public U.S. cryptocurrency exchange Coinbase Pro announced support for Cardano (ADA), the fourth-largest cryptocurrency by market cap.
The token has jumped over 18 percent on the announcement, reaching an intraday high of $1.28 before trimming some of its gains.
The native cryptocurrency of the proof-of-stake blockchain of the same name will be available for trading starting from March 18 if "liquidity conditions are met." Coinbase's professional trading arm has already started accepting inbound ADA transfers. Coinbase.com is yet to list the token.
IOHK CEO Charles Hoskinson believes that the addition of ADA is "the beginning of a great relationship" that he expects to extend throughout the upcoming years:
I'm so happy to see that announcement today. It's been a long road. A lot of very hard work went into that.
Last week, Coinbase Pro listed Polygon (MATIC), SushiSwap (SUSHI), and SKALE (SKL).