Cardano (ADA) popularity has been on the rise at a time when other Altcoins are trying to get noticed in the crypto market. The coin has been listed on eToro, a social platform that is planning to launch its native crypto wallet in the near future. The eToro ADA listing announcement could not have come a better time, the coin has been missing in the US market.
For Cardano, this could be the right timing given that the coin has been struggling to get tangible inroads into the US market. Getting listed on the platform that boasts of over 10million users is a value addition to the blockchain outfit. Being paired with the USD means ADA will trade alongside other major coins including Bitcoin, Ethereum, Bitcoin Cash, NEO, Litecoin, Dash, Stellar Lumens and Ripple among others.
Cardano (ADA) listing on eToro a Boost
eToro is a trusted global exchange with a twist; it is a social platform and has been very popular over the years. This is a very choosy exchange and getting a nod to get listed has far reaching implications. For starters, the exchange has so far listed only 10 digital coins with Cardano (ADA) being the 11th. This comes as a time when Cardano is fighting to get back the diminishing investor confidence.
According to an article published by eToro, Cardano is well positioned in helping the eToro realize its dream. Cardano future is very bright and this is why it has attracted eToro attention. During the announcement the CEO at eToro 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.”
Why Cardano (ADA) on eToro Platform?
The Cardano project has a very huge potential; it is an ambitious outfit that seeks to fill the gaps that Ethereum failed in. it gives developers and advanced environment where they can build their decentralized Apps. However they are assured a secure environment that guards them against vulnerabilities that the Ethereum ecosystem has been battling with.
Being listed on eToro means a lot to the Cardano community. The exchange has its headquarters in London, UK and has offices in Tel Aviv and Limassol and this is a chance for Cardano to cement is virgin market penetration.
Cardano (ADA) critics have always argued that the outfit does not have any product to offer in the market. As much as there could be some truth in their criticism, Cardano has been very instrumental in cross border trade development in developing countries. It has broken existing technical and trading barriers in Latin America, Africa, the Middle East and central Asia.
Cardano (ADA) real world use cases might be subtle but it is poised to solve scalability and interoperability issues that have been a hard nut to crack in the past thanks to the blockchain technology.
Cardano (ADA) Current Price outlook in the Market
Cardano price has for the last one and half months been struggling to get back on its feet. The coin performance is a reflection of the entire market with key movers sending the ripple effect across the divide. However, looking at the charts, ADA prospects reflect how solid the coin is compared to other coins.
At the time of writing, Cardano (ADA) was trading in the red after shedding 1.51% to the dollar to trade at $0.162452 and 1.71% to BTC. The eToro listing might not have any impact on the ADA price but this is a very strategic route to market strategy aimed at increased adoption and the coins traction.