Cardano (ADA) Currently Disabled on Coinbase

The major crypto exchange platform has disabled customers from sending and receiving ADA since the 7th of January.

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Coinbase isย facing issues with Cardano transactions. The major crypto exchange platform has disabled customers from sending and receiving ADA since the 7th of January and is actively working on solving the problem.

The investigation of the problem took two days, and Coinbase developers have been looking for the cause as of January 9 at 8 pm PST.

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Cardano has recently updated the trezor-connect dependency. This might have caused problems in the Coinbase system. Cardano announced the following updates:

โ€œThe team [โ€ฆ] worked on receiver address validation to prevent users from sending ada to rewards addresses, performed a cardano-node and wallet backend version update, and upgraded packages.โ€

At this moment, Cardano looks bearish at $1.16, yet experts predictย โ€œa swift recovery will lead to a 20% gain, propelling ADA to $1.42.โ€

On The Flipside

  • All funds are kept secure on Coinbase, even when transactions are disabled.ย 
  • Due to the technical issues on Coinbase, customers areย turning away from the platform and seeking other cryptocurrency exchange platforms.ย 

This article is for information purposes only and should not be considered trading or investment advice. Nothing herein shall be construed as financial, legal, or tax advice. Trading forex, cryptocurrencies, and CFDs pose a considerable risk of loss.

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