$ADA: Coinbase Data Suggests That Cardano Could Be ‘Gaining Popularity’

The latest trading data about the recent trading activity of Coinbase customers paints a bullish picture for Cardano ($ADA).

According to data from crypto exchange Coinbase, as of 1:30 p.m. UTC on October 21, in the past 24-hour period, 91% of Coinbase customers increased their “net position” in $ADA, which could mean that “the asset is gaining popularity.”

Source: Coinbase

Source: Coinbase

Talking of gaining popularity, the Cardano-powered “The Ape Society” collection recently broke another record, becoming the first large NFT collection to reach a 10K ADA floor price:

As you can see, data from CFNT.IO shows that over the past 30-day period, The Ape Society has been the top Cardano NFT project (by 24-hour trading volume and floor price):

source: CFNT.IO

One more bit of bullish news worth mentioning is related to AdaSwap ($ASW). Here is how the team introduces the project in their white paper:

“AdaSwap is an ecosystem builder that will be launched on the Cardano network and will help launch the Cardano network. There will be 4 main use cases that will be launched on the AdaSwap platform within the near future followed by exciting RnD initiatives. At the core, the platform will host an AMM (Automated Market Maker) utility that provides decentralized and noncustodial market-making for liquidity providers, built and utilized on top of the Cardano blockchain infrastructure. This will be revolutionary based on our own Free Finance Model that will change not only DeFi, but the world...

“The AdaSwap tokens are the base and utility of the ecosystem. With our token we can allow more efficient swaps and do price arbitrages in real-time. Users will use AdaSwap tokens in order to unlock the full potential of our platform. The AdaSwap token will offer the utility of creation which is a vital requirement during ecosystem growth. Above this, the token will have the utility of the Free Finance Model which will create large returns for holders while reducing costs dramatically. Users will be able to experience the hyper financial gain in real time while protecting the price of the AdaSwap token.“

Anyway, yesterday, the AdaSwap team announced that on November 28 they will be launching on the Cardano mainnet:

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