Cardano Price Prediction As Coinbase Launches ADA On Base

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Cardano (ADA) is trading steadily around $0.57, as markets show signs of recovery. Despite a slight dip in the past day, interest in ADA is picking up again driven by rising trading activity and positive ecosystem developments.

Coinbase Launches cbADA on Base

In a latest update, Coinbase has launched cbADA, a wrapped version of Cardano’s ADA token on the Ethereum Layer 2 chain, Base. This allows Cardano users to tap into a wider range of DeFi protocols. This move is part of Coinbase’s broader push to unify liquidity across blockchains, after its earlier launches like cbETH and the recent cbLTC for Litecoin. 

Backed 1:1 by ADA held in Coinbase custody, cbADA comes with full proof-of-reserves for transparency. This move could boost ADA’s presence across DeFi platforms like Uniswap, PancakeSwap, and Aerodrome.

cbADA and cbLTC are now live on @base. cbADA and cbLTC are ERC-20 tokens backed 1:1 by ADA and LTC held in custody by Coinbase.

Here’s what you need to know ↓ pic.twitter.com/iEUMPOrZYi

— Coinbase Assets