Coinbase is facing issues with Cardano transactions. The major cryptocurrency exchange has been preventing customers from sending and receiving ADA since January 7 and is actively working to resolve the issue.
Investigating the issue took two days and Coinbase developers are currently looking for the cause as of January 9, 8 p.m. PST.
Cardano recently updated the trezor connection dependency. This may have caused problems in the Coinbase system. As Cardano announced the updates:
“The team […] 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.”
At this point, Cardano looks set to be bearish, trading at $1.16, but experts predict a “rapid recovery will lead to a 20% rally, pushing ADA to $1.42.” “.
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