Listing on one of the prominent crypto exchanges is an encouraging sign for any coin and it also has a positive impact on the coin’s price. The same is currently being seen in QTUM and ADA as both coins are up around 5% on the news that Kraken is going to list them.
Details of the listing
In the early hours of September 27, Kraken pleased the ADA and QTUM community as it announced the listing of the two digital assets.
Kraken to list two new assets – Cardano (ADA) and Quantum (QTUM). Trading in both starts Friday Sept 28! https://t.co/jcaVr0u9z7
— Kraken Exchange (@krakenfx) September 27, 2018
The post further states the other details regarding the listing of two digital assets
Trading and funding in the two assets will launch simultaneously. The approximate launch time globally is:
PST: Friday, September 28 at 6:00 am
EST: Friday, September 28 at 9:00 am
UTC: Friday, September 28 at 1:00 pm
CEST: Friday, September 28 at 3:00 pm
HKT: Friday, September 28 at 9:00 pm
The post further states that the above-mentioned launch time is approximate only and it’s possible the launch might be delayed
The trading pairs that would be available with respect to ADA and QTUM will be
ADA: ADA/USD, ADA/EUR, ADA/CAD, ADA/XBT, ADA/ETH
QTUM: QTUM/USD, QTUM/EUR, QTUM/CAD, QTUM/XBT, QTUM/ETH
The post also mentions the procedure with respect to the deposit of two assets
ADA: Navigate to Funding > Deposit > Cardano (ADA) then generate a deposit address and send ADA to this address
QTUM: Navigate to Funding > Deposit > Quantum (QTUM) then generate a deposit address and send QTUM to this address
The confirmations that would be required for ADA deposits would be 15 confirmation while for QTUM this would be 24 confirmations.
Listing on Kraken an important milestone for coins
Listing on Kraken is a really important milestone for any coin on its path to success as the exchange is one of the popular and prominent ones. The exchange operates in all prominent countries which are known to be driving the volumes of cryptocurrencies namely the USA, Canada, the EU and Japan, the important geographies. The exchange is also the world’s largest bitcoin exchange in euro volume and liquidity. Any coin which is listed on Kraken usually sees an influx of liquidity and the price of those assets often seem to be rising.
The previous track record has shown some positive impact on the prices of coins after they were listed on Kraken and the same is expected to happen with Cardano and Quantum tokens.
Will the price and volume in ADA and QTUM rise due to their presence on Kraken platform? DO let us know your views on the same.
Nilesh Maurya has been associated for past 8 years as an Investment Banker with Omega Capital, a bespoke Investment Banking outfit having offices in Mumbai, New York, Singapore, and Dubai. He has been a regular contributor to business publications such as Business India and Market Express and has been a mentor to many start-up companies. Nilesh Maurya has been associated for past 8 years as an Investment Banker with Omega Capital, a bespoke Investment Banking outfit having offices in Mumbai, New York, Singapore, and Dubai. He has been a regular contributor to business publications such as Business India and Market Express and has been a mentor to many start-up companies. Follow him on Twitter at @KoinKing1 or connect with me on linkedin.