Latest News

Cardano Slides After Crypto Exchange Announces Removal Over Regulatory Concerns

The price of Cardano (ADA) is declining after a large crypto exchange announces delisting of the coin. Of course, this is particularly for US customers by the end of the year.

As per eToro, both Cardano and Tron (TRX) will stop trading on the exchange over regulatory concerns.

“US users will not be able to open new ADA or TRX positions starting on December 26, 2021…”
“Additionally, staking for those assets will end on December 31, 2021…”
“These changes are due to business-related considerations in the evolving regulatory environment.”

Furthermore, The announcement causes a drop in Cardano price from $1.80 to $1.61, a 10.5% decrease. More so, The native asset of the smart contract platform is now stable. That’s, currently trading at $1.73 as of writing.

Additionally, Popular crypto analyst Michaël van de Poppe thinks Cardano will likely dip further in the short-term. Of course, following the general market trend.

“I’m still expecting ADA to drop a bit more before we’re going for a new run…”
“Technically, with most of the crypto at this point.”

Lastly, Cardano co-creator and Input Output Honk Kong CEO Charles Hoskinson reacts Through Twitter. In order, to clarify that Cardano isn’t fully delisted from eToro. Also, that it is only not available to customers in the United States.

“We didn’t even get delisted…”
“ADA is still on eToro and non-US customers can freely trade [it].”

Galaxy Interactive Rises Additional $325M Fund For Metaverse and Next Gen…>>

Related Posts – Bank DBS’s Crypto Business Grows Massively Due To Growing Demand From Investors

Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. Crypto is not a legal tender and is subject to market risks. Readers are advised to seek expert advice and read offer document(s) along with related important literature on the subject carefully before making any kind of investment whatsoever. Crypto market predictions are speculative and any investment made shall be at the sole cost and risk of the readers.