Cardano (ADA) Added to eToro Trading
The asset has wiped out most of the gains, but remains a long-term opportunity for the technology’s future potential.
The trading platform eToro has expanded its already significant cryptocoin portfolio by adding Cardano (ADA), one of the hottest digital assets for 2018. The trading platform has been expanding dynamically, moving fast beyond Bitcoin and Ethereum, and choosing some of the up and coming assets that have enough liquidity.
The moves of eToro have followed the hottest digital assets, though excluding TRON for now. Recently, users have had the option to also own the digital assets outright, as eToro plans to release a wallet function.
During the long slide in crypto prices, ADA has wiped out most of the gains, sliding from peaks around $1 to the current level of $0.15. This is still a robust price growth, compared to the $0.03 price that drifted sideways for a long time after the ICO.
The big expectation for eToro is that it would soon unroll its services to US-based traders, after dealing with the legal restrictions. This would only add to the popularity of all the listed projects. ADA has been much less volatile in the past months, moving between $0.15 and a temporary peak near $0.37.
During that time, the influence of Tether (USDT) on the ADA market price has increased, after Binance added its pairs. More than 43% of ADA trading is happening against USDT tokens, but volumes remain lower compared to the peak ADA prices both in dollar and BTC terms.
Recently, not even a Bithumb listing managed to budge ADA, at least not significantly. Trading on eToro is independent from other crypto coin markets, and may not have a direct effect on the general price. At the moment, the most active market for ADA is on Binance, against the USDT, with 23% of trading happening against BTC.
For ADA, this means it may become one of the assets de-coupling from BTC prices, potentially growing even in a Bitcoin bear market.