Cardano rose 7% after Coinbase resolved its withdrawal issue and amid buoyed sentiments in Asia. By thesamreynolds
Cardano followed many layer 1 tokens and posted gains during the Asian trading hours on Thursday.
Cardano rose 7% soon after Coinbase restarted withdrawals on Wednesday. Traders started facing withdrawal issues last week. Sentiments in Asia were further buoyed after Hong Kong’s central bank, Hong Kong Monetary Authority , seemed to provide an open ear to crypto stakeholders in a new discussion paper.Cardano was trading at $1.30 by mid-day Hong Kong time, up 6% in the past 24 hours, according toOther layer 1 tokens, such as Solana , also posted gains of up to 10% in the past 24 hours.
Layer 1 refers to individual blockchains, such as Ethereum or Solana, over which developers can build applications and services. Reports of cardano traders facing difficulties withdrawing their tokens from Coinbase spooked the market last week, pushing cardano down to $1.11 from a late December high of $1.60.
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