InstaForex

November 25, 2021

Cardano (ADA) Decreases 3 -Month Low, What Happened?

 Cardano (ADA) posted a decline to a 3 -month low yesterday, $ 1.6 since Aug. 9, 2021.


This makes a cumulative decline of 48% from an all -time high (ATH), $ 3.09 on September 2nd.


What happen?


It is rumored that eToro will delist the ADA and Tron (TRX) cryptocurrencies for crypto trading starting December 25th.


While support for ADA and TRX staking activities will begin to cease on 31 December.


The decision was taken in the wake of the widening legal situation against crypto investors.


eToro has accounted for 1% of ADA trading volume over the past 24 hours. But this news has led to a sharp drop in ADA prices of up to 9%!



Meanwhile, TRX suffered a decline of 6% on the same day.


Calm! Don't panic.


Cardano founder Charles Hoskinson tried to 'save' the ADA price in his latest tweet: "ADA is still on eToro and US foreign investors are still free to invest."


And we didn't even get delisted. Ada is still on etoro and non-US customers can freely trade https://t.co/FAcUgv9ERj


- Charles Hoskinson (@IOHK_Charles) November 23, 2021


Fortunately today, ADA prices show a slight increase. At the time of writing, the ADA is trading at $ 1.7, up 0.6% in 24 hours.


But looking at Cardano’s performance since the presence of a smart contract through Alonzo’s hard-fork in September, the ADA hasn’t shown the progress its community had hoped for.


Perhaps it will still be time before the impact of the presence of smart contracts really highlights the potential of this platform, rivaling Ethereum, Solana, and Binance Smart Chain (BSC).