Swiss Exchange lists ADA as Coinbase Pro adds support for AVAX
Lykke Wallet, a Switzerland-based digital assets platform, posted a tweet detailing that it was adding Cardano to its list of tradable crypto assets
Swiss exchange Lykke earlier this week announced that Cardano’s native token ADA had been listed on the platform. As the exchange’s press release explained, Lykke Wallet users will be able to trade crypto commission-free. The Swiss FinTech company is offering ADA in trading pairs with BTC, CHF, ETH, EUR, GBP and USD.
The wallets’ users will, however, be required to complete KYC verification before enjoying zero trading fees. CEO of Lykke Richard Olsen reacted to the listing, saying it would help set up even stronger partnerships to serve more users. He further described the decision as being on the path towards gaining better usability of blockchain to redefine the financial space.
“The ADA listing is a major milestone for our community that now can trade ADA for free. We are inspired by Cardano’s commitment to scientific rigor and excellence. The listing sets the foundation for a deeper partnership that can serve the bigger community to unlock the full potential of blockchain…”
Elsewhere, a recent blog post from Coinbase confirmed on Wednesday that Coinbase Pro is allowing users to transact in Avalanche’s AVAX token for inbound AVAX transfers. The exchange is to launch order books across three trading pairs; AVAX-USD, AVAX-USDT and AVAX-EUR, and rollout will be split into post-only, limit-only and full trading phases. The exchange also clarified to users that Coinbase Pro would only have support for C-Chain AVAX tokens.
“Coinbase Pro only supports C-Chain Avalanche (AVAX) tokens. […] Sending Avalanche on P-chain or X-chain or any other assets to a Coinbase Pro wallet will result in permanent loss,” the post read.
The Nasdaq-listed exchange added that it reserved the right to suspend trading if it was felt that the new order books didn’t meet certain healthy market requirements as per Coinbase Pro’s assessment. Even with the announcement, AVAX is yet to feel the Coinbase effect, a breakout effect that sees tokens soar when they are listed by the exchange. Instead, the token has continued changing hands within a tight range.
The listing, which sees Coinbase join Binance and BitPanda among the AVAX-listing exchanges, was lauded by Avalanche. A Twitter post in response to the news revealed that the listing would expand the accessibility of the token to more users.
“AVAX is now available to transfer to Coinbase Pro. Trading is expected to begin tomorrow, Sept. 30, on or after 9 AM PT. This listing increases the accessibility of Avalanche to a broader set of users, including those in the US,” the post read.
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