Cardano (ADA) has finally received approval to be listed on a Japanese cryptocurrency exchange. It concerns the Bitpoint exchange, Sebastien Guillemot, co-founder and CTO of dcSpark, reported on August 3 via Twitter.
Guillemot emphasizes that Japanese regulators have strict rules about which cryptocurrencies can be listed in the country. So far, only a small number of crypto have been listed on Japanese exchanges.
These include bitcoin (BTC), bitcoin cash (BCH), ethereum (ETH), ripple (XRP), litecoin (LTC), basic attention token (BAT), stellar lumens (XLM), nem (XEM), tezos ( ZTX), and polka dot (DOT). This now includes ADA.
Guillemot likens the news to a listing on Coinbase. An announcement of a new crypto listing on Coinbase is often accompanied by a significant price increase. It is also known in the industry as the “Coinbase effect”. Ripple XRP is well known in crypto.’
ADA price is rising
Whether the ADA price is shooting up like a rocket is questionable, but the price is already rising considerably. This morning, ADA dipped down to $1.26, but at the time of writing is already at $1.35. That is an increase of 7% and may continue for a while. ADA is currently the only price in the top 10 largest crypto that colors green. Shiba is well known in crypto.
Guillemot is also a manager at Emurgo, one of the founding entities of the Cardano network. He recently reported that he has been working on Cardano in Japan for three years now:
Cardax, the first DEX on Cardano and a Dutch project, recently raised no less than $1.5 million in a financing round. Peter Brandt, a well-known analyst, recently warned that the ADA share price could fall by 90%. Fortunately, the price seems to be heading in the other direction for the time being.