Kraken Adds Cardano and Quantum to Its List of Supported Crypto Assets

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Bitcoin Exchange Kraken Announces Fifth M&A Deal, Acquires Charting and Trading Platform Cryptowatch
Image via blog.kraken.com

Cryptocurrency exchange Kraken has announced the addition of two new assets to its platform: Cardano and Quantum, bringing the number of supported coins up to 19.

Ninth-placed Cardano (ADA) and 29th-ranked Quantum (QTUM) join the likes of Bitcoin, Ether, EOS, Stellar Lumuns, Litecoin, Tether, Monero, Dash, Ether Classic, Dogecoin, Zcash, Augur, Iconomi, Gnosis, and Melon.

Trading of the two new altcoins will start today, according to a blog post from the San Francsico-based exchange.

At the time of publishing, Cardano is trading up by 4.73 per cent, at $0.083, whereas Quantum has increased by nearly eight per cent in the past 24 hours. It is currently valued at $3.86.

According to Mati Greenspan, senior analyst at eToro, Cardano has the potential to be a hugely important project. The global investing platform and crypto exchange has also added ADA to its list of crypto assets as it answers users needs who want to diversify their portfolios.

The announcement from Kraken comes at a time when various platforms are working at attracting more retail and institutional investors to their services.

Yesterday, it was reported that SFOX, a crypto dealer aiming to provide trading services for high-volume traders and institutional investors, announced it was adding support for Litecoin. The aim is to give its clients the chance to diversify on their crypto holdings with a coin that offers liquidity and utility.

Also this week, Bitfinex, a cryptocurrency trading platform, revealed the launch of EOSfinex, a decentralized exchange built on the EOSIO technology, in beta. The platform aims to aid peer-to-peer value exchanges and support high-volume blockchain-based trading. At present, though, only three major pairs will be traded: BTC/USD, ETH/USD and EOS/USD.

In the blog from Kraken, clients will be able to trade ADA and QTUM on kraken.com, however, margin trading is not currently available for the two coins, but will be in the near future.