Cardano (ADA) Network Gains Momentum After Binance Listing

• Binance to list a new Cardano pair.
• ADA/TUSD will go live on May 31.
• The listing could potentially cause the ADA network to grow.

Cardano strives to offer a secure and scalable blockchain platform designed to facilitate the execution of smart contracts and the development of decentralized applications. Launched in 2017 by a team of engineers, mathematicians, and blockchain experts, Cardano combines rigorous academic research with advanced technology to offer a more sustainable and inclusive ecosystem.

In a recent development, Binance, a prominent cryptocurrency exchange, has announced the listing of the ADA/TUSD trading pair, potentially impacting the growth trajectory of Cardano (ADA). This listing is expected to enhance ADA’s liquidity and contribute to the overall expansion of the network, leveraging the extensive user base and market reach of Binance.

New Cardano pair to go live on May 31

The ADA/TUSD trading pair is scheduled to launch on May 31, 2023, at 8:00 a.m. (UTC). Binance plans to introduce Spot Grid for the newly listed trading pairs within 48 hours of the trading start time, offering zero maker fees on the ADA/TUSD and LTC/TUSD spot and margin trading pairs for an unspecified duration.

The DeFi surge on Cardano has played a significant role in driving the growth of Total Value Locked (TVL) on the network. Additionally, ADA has shown strong performance in the market by rebounding from the local trendline at $0.35 and currently moving in an upward direction. An interesting development to note is that approximately 3 million Cardano (ADA) addresses are experiencing losses, prompting analysis based on various indicators.

The recent listing of ADA on Binance is expected to further accelerate Cardano’s expansion and adoption. With increased exposure and liquidity on Binance, there is a potential for ADA to attract more traders and investors, subsequently driving its market demand and potentially influencing its price. According to CoinMarketCap data, Cardano is trading at $0.378 at press time.