This week, the OkCoin exchange announced that it was adding five cryptocurrencies. Among the five cryptocurrencies was Cardano (ADA). The other four cryptocurrencies were, Stellar (XLM), Zcash (ZEC), XRP and Ox (ZRX). The news saw each of these coins experience double-digit price gains; led by Ripple’s XRP coin.
For Cardano, this listing was one of two for the day. Earlier in the day, the founder Charles Hoskinson announced that the coin was being listed on Ubex.
OkCoin Listing As It Grows Its Portfolio And Expands Operations
The five new coins will be available to traders within the U.S with plans to expand underway. All five digital assets will be paired with Bitcoin, Ethereum and fiat in form of the U.S Dollar. This is a major move that comes just days after the exchange expanded its operations to reach 21 states in the U.S.
Cardano’s Founder Visits Mongolia; Cardano Listed On Ubex
Cardano’s founder, Charles Hoskinson, has been in Mongolia. This visit is part of his ‘country opening trips’ which have already seen him visit Ethiopia, South Africa, and Vietnam among more. During his visit, he has met up with crypto enthusiasts, local business representatives, government representatives, and universities.
At first, it looked like he was only visiting to educate on blockchain and cryptocurrencies. But, his presence in Mongolia has resulted in a major update for ADA. His visit has come in handy for Cardano holders as the coin got listed on the Ubex platform. The founder announced on Twitter that Ubex will be listing ADA, bringing Cardano to Mongolia. This could have some significant effect on the price.
Ubex is an advertisement exchange that aims at creating an advertisement ecosystem. The exchange allows for companies to advertise through its platform, and pays internet users for watching these adverts. By paying internet users using cryptocurrencies, and advertisers having to pay using cryptocurrencies, the exchange promotes the adoption of the digital assets. All this is done through blockchain technology making it efficient and fast.
ADA Price Reaction To The Announcements
The announcements by both OkCoin and Cardano’s founder could significantly affect ADA’s price. The coin is being exposed to new markets and this could trigger it for mass adoption, driving prices high. The rally might even have already begun. At the time of press, the coin is trading at $0.072278. This is an increase of almost 5% in the last 24 hours.
This could signify better times to come for the coin.
John is a finance and technology journalist with a growing interest in cryptocurrencies. Writing is his passion and when he’s not writing he’s listening to the Beatles.