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Cardano [ADA] surges by 4% following Coinbase addition speculation and integration to Ledger wallet

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Cardano [ADA] surges over 4%; Coinbase addition and Ledger integration speculated to drive the price hike
Source: Pixabay

Cardano looks optimistic after the announcement of its 1.5 version release on the mainnet. The Cardano 1.5 update marks the many improvisations, like Ouroboros BFT consensus protocol, from its precursor Ouroboros Classic.

The founder of Cardano and CEO at Input Output HK [IOHK] tweeted,

Source: Twitter

A blog post by the Cardano community, which explained the transition of the consensus protocol to BFT from Classic, stated,

“This update is technically a hard fork but will take place in a smooth and automatic way because this is a planned protocol upgrade whereby all parties of the current federated system have agreed to the change.”

The upgrade further aims to render a large volume of transactions and wallet addresses in addition to insufficient space detection feature and a new block consolidation status screen.

The latest release and following upgrades could potentially be a reason for Cardano exhibiting a surge of over 4% in the current bear market. The upward volume movement can also be attributed to the coin’s speculation of being listed on the trading platform Coinbase. The trading platform announced the exploration of Cardano, Basic Attention Token [BAT], Stellar Lumens [XLM], Zcash [ZEC] and 0x [ZRX], out of which most of the coins have already been added.

Another reason that led to the pump can also be speculated to be the integration of Ledger Hardware Wallet to the Cardano network. The announcement was made by Cardano Founder Charles Hoskinson. Talking about the integration, Hoskinson said,

“This means users will be able to hold their ADA offline, through the convenient and highly secure means of cold storage.”

Source: TradingView

At press time, the eleventh largest crypto asset ADA held a market cap of $1.37 billion, and was valued at $0.052. The 24-hour trading volume of the digital coin was $50.03 million, following a surge of 4.87%.

Additionally, Cardano [ADA] registered a significant growth of 12.28% during the past seven days, which is more than the top coins, including Bitcoin and Ethereum, during the same time frame.





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Chayanika holds a Journalism degree and is currently working with AMBCrypto. She is inquisitive about everything that the Blockchain Technology has to offer.

Altcoins

Whale Alert: Massive $300 million transfer takes place on Binance Chain; funds SAFU, says CZ

Biraajmaan Tamuly

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Whale Alert: Massive 300 million BNB Coin transfer takes place on the Binance Chain; CZ responds amidst transaction
Source: Pixabay

Binance, one of the world’s largest cryptocurrency exchanges, has been having a wonderful year in terms of new developments, such as their new Binance DEX and the massive growth of Binance Coin [BNB]. Binance’s native token has grown by approximately 500 percent in 2019 alone.

The exchange also recently announced the launch of BTCB, with an objective to provide a crypto-asset pegged to BTC’s value for trading purposes on Binance DEX, with the assets being backed by Binance itself.

Binance’s ecosystem is progressively active and it was recently observed and reported by Whale Alert, an online cryptocurrency-transaction tracker, that a sum of approximately $302 million, equivalent to around 8 million BNB coins, was transferred on the Binance Chain.

The transaction took place of 26th January 2019, with a time stamp of 07:52:56 UTC. It was sent from an unknown address, bnb1jkvrjawcd8wlugk8455wqjggxecyxj9uf0g7uy, to another unknown wallet, bnb13wmeg7ypkcr39wnzy2q02mku2qemnrm4kclezs, for a transaction fee of 0.000375 BNB. The block height of the transaction was #15820220, and it was deemed a successful one.

Following the massive transfer, Changpeng Zhao, CEO of Binance, responded on Twitter regarding the transfer and claimed that the current movement was a rotation of funds between some cold wallets.

CZ suggested with a linked tweet that the movement of funds should not necessarily raise any alarms as the funds were SAFU.

In another tweet, CZ  stated that there were currently 4 addresses that were holding 8 million BNB coins each. A total of $32 million BNB was unlocked for the Binance team. However, it was understood that the tokens were not spent and saved in the addresses themselves.

It is speculated that CZ took the initiative to list the reason for the massive transfer as previously, huge BTC transfers, which included a Coinbase wallet transfer, was accused of market manipulation.

At press time, BNB coin was priced at $37.30, experiencing a hike of 1.87 percent over the past 24 hours.





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