Coinbase Enables ADA-Backed USDC Loans Up to $100,000 as Cardano Trades Around $0.28

Coinbase added ADA as eligible collateral for its onchain lending product, enabling U.S. customers to borrow up to $100,000 in USDC against Cardano after integrating the DeFi protocol Morpho, the exchange said, and Cardano traded near $0.28 following the update. The expansion excludes New York residents and arrives alongside collateral support for XRP, Dogecoin and Litecoin, while the exchange launched the service last year with Bitcoin and Ether and has reported more than $1.9 billion in loan originations. Onchain data show wallets holding 1 million–10 million ADA and 10 million–100 million ADA acquired a combined 240 million tokens over the past week, according to Santiment. ADA traded around $0.275 at the time of writing, oscillating between support near $0.27 and resistance near $0.30 as the MACD signal line remained above the MACD line, per TradingView.