Cardano (ADA), QTUM (QTUM) Prices Pick Up on Kraken Listing

 In Altcoins, Exchanges

The ADA digital asset grew by as much as 10% in the past 24 hours on news of getting listed on the Kraken exchange.

Cardano (ADA) starts trading on the Kraken exchange on September 28, along with QTUM (QTUM), in a move giving exposure of the two assets to fiat trading pairs. Both will trade in pairs with the US and Canadian dollars and the euro, as well as BTC and ETH.

In the past weeks, ADA has shown a relative weakness, and news of the Kraken listing provided a boost to the price. ADA abandoned the $0.07 range, going as high as $0.088 in the past day. Around 9:30 UTC on Friday, it traded at about $0.085, up 8.15% in the past 24 hours.

The Kraken listing boosted QTUM as well. In the past day, the asset rose as high as $4.11 before retreating to $3.82 around 9:30 UTC.

Although pushed to the sidelines by the boom in Asian exchanges, Kraken remains an important piece of the crypto infrastructure. It has volumes of around $160 million in 24 hours, roughly a tenth of what exchanges like Binance or OKEx record. However, Kraken is still considered important as a ramp for selling coins for fiat. Fully legalized in Europe, the platform is used by small-scale investors and miners. It is possible that the addition of ADA and QTUM would help the former expand their portfolios.

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Both ADA and QTUM have been sliding in the past three months although there is a general expectation the trend may reverse soon. QTUM has unraveled from levels near $10, and ADA has slid from positions of around $0.37. The assets have seen predictions of much higher values, with expectations of triple-digit prices for QTUM and above $1 for ADA, but the prolonged bear market and flash sales have brought the coins down.

Neither the author nor the publication assumes any responsibility or liability for any investments, profits, or losses made as a result of this information. Cryptocurrency trading and investing are risky propositions, and market participants are advised to always conduct thorough research.

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