At the moment, users can only make withdrawals to addresses created in Cardano’s Shelley era. That is, those starting with addr1. Coinbase will soon enable withdrawals for all Byron and Shelley addresses.
ADA rises 3.2% in 1-day chart
Following Coinbase’s announcement, ADA rose nearly 3.2% in less than an hour and reached $1.30. In the last 24 hours, the cryptocurrency has posted a 15.3% increased in the last week.ADA hit an all-time high in late February when it stood at about $1.45. Cardano inventor and IOG CEO Charles Hoskinson hinted several times about announcements and partnerships that have boosted the rally. Among these was Coinbase’s listing.
I’m so happy to see that announcement today. It has been a long road. A lot of work went into that. It’s the beginning, I believe, of a great relationship which is going to extend trough out the years. Coinbase is one of the best exchanges in the world, one of the largest exchanges in the world for cryptocurrencies. We wished them well for the IPO. They have some of the greatest engineers in the cryptocurrency space.Hoskinson said the partnership with Coinbase will continue and he expects staking support to be enabled. He was also enthusiastic about the participation traders will have with the announced trading peers. IOG’s CEO concluded:
We are going to continue working on the Rosseta spec with them (…). On behalf of everyone on Input Output Global to eveyone on Coinbase welcome to the familly, we are glad to have you. We love working with and we love working with you for this past long time. On behalf of the Cardano community welcome to ADA nation.