Cardano (ADA) What’s next?
Bad news for Charles Hoskinson and his supporters. Because the now listed online broker eToro, which also operates intensively in the crypto-asset business, has announced that the trading and staking of ADA tokens will be discontinued for US users at the end of December. Functions are being gradually reduced. By the first quarter of 2022 at the latest, it will only be possible to send ADA tokens that have already been purchased to other wallets.
The reason given is “business-related considerations in the evolving regulatory environment”. In addition to ADA, TRX, Tron’s token, is also affected.
The downward trend in what was once the third largest crypto currency in the world seems to be endless. After a price explosion to over $ 3 in early September, the tide turned. Since then, the Cardano course has been in a never-ending downward spiral. Which is not yet showing any signs of weakening. Rather, it seems to be accelerating. Because yesterday, the native cryptocurrency of the Cardano blockchain called ADA sank to $ 1.58, the lowest level since August 9th. On this day, Cardano had started its last Alonzo test network before the introduction of the smart contract. What triggered a massive rally at ADA, after all, the smart contract functionality also opens the door to DeFi (decentralized finance) and dApps (decentralized apps).
Trade Team Forecast
Currently things are not looking as good with cryptocurrencies as at the beginning of the year. There are now much better cryptocurrencies than Cardano, but we think that Cardano is not yet completely defeated. We don’t think that the coin will reach $ 2 in 2022, but rather that it will move much closer to $ 1.