Cardano has been plagued with poor performance since its inception. The cryptocurrency, which boasts a promising new design and ADA token value, is now being delisted from eToro, the world’s largest crypto broker. Some traders are predicting that this development could be just one of many challenges faced by Cardano in 2018. Meanwhile investors wait to see if their investment was worth it or not.
The “cardano stock how to buy” is a cryptocurrency that has been delisted from the eToro exchange. The price of cardano has fallen following the delisting. Are the cracks starting to show?
On Wednesday, Cardano (ADA) hit a 15-week low of $1.58. This came on the heels of reports that eToro, a social trading platform, plans to delist both ADA and TRX for US customers in the coming weeks.
Source: TradingView.com, ADAUSD
Cardano recorded an all-time high of $3.10 in the days leading up to the introduction of Alonzo smart contracts. However, despite broader market gains, it has been unable to retest this level due to a collapse.
The $1.90 level has proved to be a critical support level on three times throughout this decline. Last week, though, it failed to hold. While bulls came in to stage a partial rebound over the previous two days, Cardano fell back below this level during the weekend.
As a result, Cardano investors have taken to social media to express their worries, particularly over the absence of working dApps since Alonzo went live. Are these fears, however, justified?
Cardano is no longer listed on eToro.
On Tuesday, eToro stated that trading and staking for Cardano and Tron will be discontinued.
The business didn’t elaborate on why, just saying that “the developing regulatory climate” had compelled them to act.
IOHK CEO Charles Hoskinson commented on the subject, saying it was a developing topic about which he was unaware. Nonetheless, he attributed the delisting to the present regulatory environment in the United States, noting a lack of certainty.
Simultaneously, he attempted to reassure token holders by stating that there are no liquidity issues. He further noted that, despite eToro’s decision, Bitstamp, situated in Luxembourg, has recently declared that ADA would be listed.
“First and foremost, there are no cash issues. Some things are gained, while others are lost. For example, Bitstamp just stated that they would offer ADA, and it is a lot bigger cryptocurrency exchange by volume than eToro…”
The community’s trust seems to be eroding.
Regardless of guarantees, it is human tendency to concentrate on the present moment. And the price of Cardano is now, and has been for the last three months or so, displaying indications of weakening.
The anxieties have expanded to social media, with a Reddit post pointing out the absence of dApps since Alonzo’s launch.
Cardano’s SDK, which is “100x more sophisticated” than other kits, was blamed for the poor pace of dApp releases, according to the top-voted response, which received 1,900 upvotes. Adding that, although Solidity has problems, Ethereum development is considerably simpler.
“One thing I’ve discovered with Cardano’s developer kit is that it is 100x more difficult than the APIs of rivals.”
Solidity deserves credit; it may be f*cking half-broken, but it’s [sic] by far the simplest method to construct classic blockchain EVM software for ETH-like networks.”
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