eToro, a social trading network with over 10 million users, listed Cardano [ADA] on its trading platform, with its trading pair being USD at the moment. Other currencies already listed include BTC, BCH, ETH, XRP, DASH, LTC, NEO and XLM making it an impressive 11 currencies.
eToro informed its clients that they “can now trade and invest in ADA and add the crypto to their portfolios.” eToro also promises its clients that “companies that present added value, such as Cardano’s blockchain development platform, will have a stronger foothold in the market.” The reason behind ADA’s listing, it says, is
“While some other cryptocurrencies could fall to the ebb and flow of supply and demand, Cardano’s strong, highly-regarded blockchain platform could be a driving force in maintaining its position as one of the world’s leading cryptocurrencies.”
Cardano is a blockchain development platform introduced by Input Output Hong Kong (IOHK), and launched in 2017. Its cryptocurrency, ADA, shot up the ranks in the year’s bullish end, when BTC was valued at more than $15,000. Cardano is a third-generation cryptocurrency and smart contract platform that claims to improve upon the scaling problems of Bitcoin – a first generation coin, and Ethereum – a second generation coin.
Yoni Assia, Co-founder and CEO at eToro, is reported to have said,
“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.”
Redditor WhatTheFUD, replying to a question on whether ADA prices are expected to rise, said,
“ADA was listed on Bithumb like 3 days ago, and it pretty much had no real effect on the price. Spiked for like a few hours from 15.5 cents or so, to 17 cents, and it went back to 16ish and stayed stagnant like that for a few days now.. I fail to see how Etoro will make any real impact, as it’s not a bigger exchange compared to Bithumb.”
Redditor yuube agrees.
“Nothing short of a full market turn around for all of crypto should help. New exchanges only help when there are tons of people buying. People don’t start magically buying just because a coin was listed on a new exchange during a down trend. People don’t want to catch a falling knife.”
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