By
Steve Muchoki
April 23rd, 2024
The move by Bitrue to add Cardano as base pair will significantly increase liquidity in the Cardano ecosystem. Additionally, more users from Bitrue can now access the broader ADA market at lower trading fees.
The Bitrue crypto exchange has announced its further support for the Cardano ecosystem with the launch of ADA as base pair. According to the crypto firm through a press release, the firm will launch ten Cardano (ADA) pairs by February 24.
Notably, Bitrue was the first crypto exchange to offer trading for Cardano-based assets mid-last year with the launch of OccamFi. Additionally, Bitrue is the only exchange to support community stake pools with contributions of 2,000,000 ADA which have been delegated to pools run by trusted community members.
“Bitrue has shown a long-term commitment to the Cardano community and the numerous teams that are building within it, gradually integrating ADA into every single product or service that we offer on our exchange. The addition of an ADA base-pair re-affirms our commitment to this coin,” said Adam O’Neill, Chief Marketing Officer of Bitrue.
The initial coins paired with ADA on Bitrue will be FLUX, DGB, RSR, GAS, SNT, CTSI, BNT, LOOM, KNC. Nevertheless, more trading pairs will continue to be added weekly.
“The ADA community has been growing fast throughout the world as the coin continues to pass new milestones and prove itself as one of the core currencies of the new digital finance revolution. Similarly, we’ve seen an explosive growth of an ADA fanbase on Bitrue, and it is our great pleasure to provide them with convenient trading pairs utilizing ADA,” Mr. O’Neill added.
Bitrue, Cardano and the Crypto Market
Building real-world utilities in the crypto industry are said to be the holy grail that will separate most competitors. Consequently, crypto-related firms have been making strategic partnerships and acquisitions to help build real-world utilities. The crypto market is trapped in a possible multi-week consolidation that analysts think will end by the next Bitcoin halving.
Cardano has proved itself to be a global-scale smart contract platform with scalable and cheap economics. On the other hand, Bitrue is among the leading crypto exchanges with high daily traded volume. According to market data provided by CoinGecko, Bitrue is ranked 33 with a daily traded volume of approximately $1.8 billion.
The move by Bitrue to add Cardano as base pair will significantly increase liquidity in the Cardano ecosystem. Additionally, more users from Bitrue can now access the broader ADA market at lower trading fees.