Cardano (ADA) has been a trendy cryptocurrency even when other cryptos are trying to get famous in the crypto-market. Also, Cardano (ADA) is a decentralized cryptocurrency which is similar to Ethereum that permits the build-up of decentralized applications.
Recently, Cardano (ADA) got listed on eToro, and it becomes the eleventh cryptocurrency to score a listing on the exchange platform. eToro announced this great accomplishment on its official Twitter page.
*Highly volatile investment product. Your capital is at risk. pic.twitter.com/36fVMrjKEz
— eToro (@eToro) June 18, 2018
Getting listed on eToro which has more than 10 million users, is a great stride and accomplishment that poses a big boost to Cardano (ADA). Being listed on eToro means that ADA will be traded with significant cryptocurrencies like Bitcoin, Ethereum, Bitcoin Cash, Ripple, NEO, Litecoin, Dash, Stellar Lumens, and others.
Cardano (ADA) Listed on eToro – a good build-up for the coin?
eToro was set-up by Yoni Assia, Ronen Asia, and David Ring and it was founded in 2007. The exchange platform portrays itself as a “leading social trading network, with millions of registered users and an array of innovative trading and investment tools.”
EToro is globally known, and a trusted exchange platform and the fact is, it has been trending for quite some time now. It is a very picky platform and getting a listing on such platform has a reasonable implication. It is necessary to note that right now, the exchange platform has only listed ten cryptocurrencies with Cardano (ADA) being the eleventh.
The listing of Cardano (ADA) comes at a time when there have been significant lows in the cryptocurrency market, with Bitcoin having a surprising dip in price from $20,000 to $6,666, thus, affecting other altcoins, with ADA included. But despite the lows in the market, ADA is making sure it gets back the confidence of its investors.
Charles Hoskinson-founded token is the built-in coin on Cardano, and it is very trendy when it comes to peer-reviewed bases. When Cardano (ADA) kicked-off its operations with a market value of about $0.03 in 2017, it rose to $1.32 at the beginning of 2018. However, due to the shaky situation in the crypto-market, the coin started falling low and traded at $0.13 in April.
eToro made it known that Cardano (ADA) has a bright future and this was one of the main reasons that attracted it. The exchange platform says:
“We are seeing growing interest in new cryptocurrencies increasing all the time. We are committed to bringing the top traded crypto assets onto our platform for our users to invest in.”
Cardano (ADA) price breakdown after being listed on eToro
The price of Cardano (ADA) hasn’t been at its best due to the current price dip in the crypto-market today. You can say the value of this crypto has been on a roller coaster for a few months now.
At the time of writing this article, Cardano (ADA) is traded at $0.15336 having its value decreased by 5% in last 24 hours. Main cause amongst the reasons behind current price dips and lows in the market is the Bithumb hack; the Cardano’s listing on eToro has impacted a little on the price of ADA.
Nevertheless, the listing on eToro will undoubtedly have a more significant impact on the future of Cardano (ADA). In the meantime, the next release is probably in the next two weeks according to Cardano roadmap.
eToro is a multi-asset platform which offers both investing in stocks and cryptoassets, as well as trading CFDs.
Please note that CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.
Cryptoassets are volatile instruments which can fluctuate widely in a very short timeframe and therefore are not appropriate for all investors. Other than via CFDs, trading cryptoassets is unregulated and therefore is not supervised by any EU regulatory framework.
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