Coinbase has announced the launch of cbADA on its Layer-2 network Base, providing a new level of access for Cardano in the DeFi ecosystem. This event has attracted significant attention among traders and analysts.
Launch of cbADA on Base
Coinbase has introduced cbADA, a token backed by ADA on a 1:1 basis and securely held in Coinbase custody. This innovation allows ADA to interact with DeFi platforms like Uniswap and Aerodrome, extending Cardano's market footprint. cbADA is part of Coinbase's liquidity strategy, which previously included cbETH and cbLTC.
Market Activity: Surge in Volume and Interest
Since the launch of cbADA, there has been a dramatic increase in market activity — trading volume has reached $600 million, and open interest in ADA futures stands at 1.2 billion. Community engagement has also increased with active discussions about the Midnight Glacier airdrop, contributing to a rise in mentions of Cardano on social platforms.
Price Predictions for ADA in 2025
Many analytical platforms have updated their price forecasts for ADA for 2025. Expected levels range from $0.63 to $2.19, while long-term goals predict a price reaching up to $10 by 2030. Predictions vary based on the levels of development and adoption of the technology.
The launch of cbADA by Coinbase could mark a significant event for Cardano, enhancing its integration into the DeFi space and increasing investor interest. While short-term trends may be uncertain, long-term prospects appear more promising.
