Business & Finance

Kraken Announces Listings of Cardano (ADA) and Quantum (QTUM)

The world’s largest bitcoin exchange in volume and liquidity, Kraken, has announced two new listings to its exchange platform today. The newly listed assets announced by Kraken are Cardano (ADA) and Quantum (QTUM). Cardano is a decentralized computing platform that offers a broad set of state-of-the-art features while Quantum blockchain combines the best of Bitcoin and Ethereum by welding the two together through an “Account Abstraction Layer”.

Kraken released the updates in a Twitter post that said:

We are pleased to announce that Kraken will list two new digital assets – Cardano (ADA) and Quantum (QTUM).

The U.S. based cryptocurrency exchange operating in Canada also announced the trading pairs for both ADA and QTUM. Trading pairs for both new listings include the fiat currencies USD, EUR, CAD and major cryptocurrencies BTC and ETH.

Talking to BlockPublisher, Advisor to Linda Coin and a crypto analyst of prominence, David Gokhshtein explained how exchange listings are profitable both ways and it is not only the cryptos, the exchanges too get major benefits. He said:

If I’m an exchange I can list some of the best crypto’s on the market I’m winning. But it’s also about marketing your exchange. Anyone can list a coin on their exchange but if you’re not well known and your platform isn’t good then it means nothing.

He also made believe with his ample experience that exchange listings help boost a token’s prospects for a short while after which it cools off because people take their profits from the partnership.

Most token usually pump once listed on an exchange, And a few days after it’ll cool off with people taking profits.

Cardano (ADA)

Cardano claims to have the world’s first secure proof-of-stake consensus mechanism and provides a decentralized computing platform to offer new technology features to its users. It includes a scalable settlement layer, a computing layer for smart contracts that also supports cross-chain transfers and a democratic governance structure.

It has a market cap of approximately $2.07 billion. Its circulating supply is 25.93 billion with a total supply of 31.11 billion.

Quantum (QTUM)

Quantum is a Bitcoin cum Ethereum blockchain that results in combining the best features from both. This gives Bitcoin’s transaction output model and Ethereum’s Vitrual Machine functionality to QTUM. It also provides the ability to port new features from both BTC and ETH over to Quantum while applications on ETH blockchain can also be made on Quantum.

Quantum has an approximate market cap of $320.85 million at press time with circulating and total supplies of 88.92 million and 100.92 million respectively.

Kraken Coy on Future Listings

Kraken, the cryptocurrency exchange that provides BTC pricing to the Bloomberg terminal, has remained tight-lipped on potential new names for listings. They are, however, open to the possibility of new listings but refuse to share names. They are yet to respond to reveal their motivation behind the two latest listings that provide a different set of features to each other, to the Kraken platform and its user base.

The official blog post made by the company regarding this development can be found here.

Razi Khan

Researcher, Electrical Engineer and a teacher, Razi is one who takes great intrigue in the prospects of blockchain and cryptocurrencies (BTC in particular) while contributing a critical approach over the subject regularly. Contact the editor at editor.news@blockpublisher.com

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.