Bitcoin Reverses Its Losses As Cardano Surges On Coinbase Pro Listing

Bitcoin reverses its losses right as Cardano surges ahead on the Coinbase Pro listing news, with the rest of the markets being on a road to recovery after this week’s losses so let’s read more in our latest Bitcoin news today.

Markets recovered from the routing of the earlier week and BTC increased over the news of Visa which announced to be experimenting with BTC wallets. Bitcoin reverses its losses as Cardano surged on the news that it was added on Coinbase Pro. The market had some rough days the past weekend and now it looks like it is recovering. The global market cap recovered from its weekly low of $1.64 trillion and is now sitting in the $1.72 trillion range.

Visa CEO, Al Kelly: “We’re trying to work with some Bitcoin wallets to allow #Bitcoin to be translated into a fiat currency and therefore immediately be able to be used at any of the 70 million places around the world where Visa is accepted.”

— Bloqport (@Bloqport) March 16, 2021

BTC found its footing right again in the $56K region after it dropped to as low as $53K earlier this week. The currency is up by 1.63% and rising as per the data company Nomics. The recovery was aided by comments made by Visa CEO Al Kelly who spoke on a podcast, saying that Visa was working actively with some BTC Wallets to allow a seamless movement of crypto to fiat allowing BTC to be used anywhere where Visa is accepted. Kelly’s comments had a positive effect on crypto’s trading volume and there was also a steep rise of 21.4% in money movements in the crypto space with more than $193 billion changing hands.

Ethereum is down by 0.6% after the strong gains overnight which is the result of the news that ETH is pouring out of the exchanges superfast as per the data by CryptoQuant. The real winner however is Cardano as it surged 20% on the news that it will be listed on Coinbase Pro. ADA has been steadily climbing up by the market cap charts before its Shelley network upgrade. The total market cap sits above $40 billion for the first time, above Binance Coin which sees modest gains of 1.8% a day ago.

$ETH reserve across all centralized exchanges is decreasing, while $BTC reserve is repeating up and down since January this year.

Chart 👉 https://t.co/1bs87PnGJm pic.twitter.com/MG22PaIaFZ

— CryptoQuant.com (@cryptoquant_com) March 15, 2021

In the midcaps, the projects valued between $10 and $40 billion it seemed to be a mixed bag so Uniswap and Polkadot gained 6% but Ripple lost 5$. It was a similar situation for the rest while on Wall Street, the prices cooled after the highs set earlier this week. The investors are now waiting for the Federal Reserve March monetary policy decision that is about to happen soon along with Powell’s press conference.