Is Coinbase Salty with Cardano?
Is Coinbase ever going to list Cardano? Coinbase recently posted a tweet about potential ETH Killers, what surprises me in the article is that there is no mention of ADA and they clearly targeted high profile blockchains in the article looking to take some of the marketspace Ethereum has today.
In this article it seems the author at Coinbase is a huge fan of ETH and anti-Cardano, or is that just me? Charles also posted a tweet about this asking a similar question, but if I was him I wouldn't provoke that idea and create any more drama with them.
Why Coinbase for ADA?
Obviously there are plenty of places to buy Cardano, but a lot of millennials aren't either comfortable or willing to buy from any other exchange. We've all seen the impact Coinbase has had on tokens when they announce they're listing them, it's even more extreme and sustainable to the McAfee effect - which was classic back in the last bull run... you guys remember that?
There is Binance US for Cardano, but many states in the US aren't on board with Binance just yet but Coinbase is available in all states. So Coinbase at the moment still has a huge impact on token price. The other thing is holding POS tokens on Coinbase allows users to earn their staking rewards without having to figure out how to join staking pools. I know in my case, I haven't tried to figure that out, mostly because I don't trust myself and because the hassle about then trying to sell some for profit when I need to.
Cardano Getting into DEFI
I foresee DEFI as being the real catalyst for a huge run for Cardano. Everyone always see's how Ethereum gas fees go up during a bull market and give concern to the entire blockchain. It's usually around the time that the gas fees become a real issue that you see a slow down in it's price rise. I strongly feel developers are looking for alternatives and Cardano is going to be a serious player in this space, since everything they've been doing with their development is to ensure long term sustainability/success.
Maybe one day we'll see a wrapped LEO migrate over to the ADA chain, who knows?
And thus it begins: https://t.co/MnB1G4U9Bf— Charles Hoskinson (@IOHK_Charles) December 11, 2020
Cardano has the most potential for non-risky investors in my opinion. Sure there are plenty of blockchains and cryptos out there, and ones that have been around for some time. In ADA's case, Charles was one of the founders of ETH, he was the organized one on the team and didn't like the direction ETH was going under Vitalik's leadership. I can imagine why too.
If Cardano's market cap was half of what ETH's is today that is about 5x the price.
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