The news about $ADA losing value after eToro decided to put transaction limits for the US citizens has been making rounds on social media platforms. However, the management of ADA and some other crypto market analysts seem to disagree with the idea. The Cardano developers have recently increased the scalability of the network to support 250 TPS to support the increased traffic after Alonzo hard fork.
It is estimated that after dApps capabilities go live on the network, the engagement and interaction on the Cardano network is going to increase further. Meanwhile, ADA token native to Cardano was moving in the bearish alley even before the news about the Nu Covid variant hit the financial markets yesterday.
Many Cardano investors are worried about the news that ADA token will not be available for trading or staking at eToro after the end of the current year. However, Cardano CEO Charles Hoskinson has taken to YouTube and told investors that eToro is not delisting ADA but only stopping providing staking rewards for the United States consumers.
During the next year, all the non-USA-based consumers will be able to keep enjoying staking rewards from ADA and Tron tokens on eToro. Hoskinson further clarified that ADA has recently been listed by a massive crypto exchange platform called Bitstamp as crypto proponents have pointed out that the daily transaction volume and liquidity pool of Bitstamp are many times bigger than eToro.
Benjamin Cowen Praises Cardano Network
The CEO of CryptoQuant, Benjamin Cowen, recently told media that on the year-to-date metric, the price of Cardano has been performing well consistently. He posted a new tweet mentioning the price history for ADA on Thanksgiving from 2019 to 2021. The price shows that ADA prices were at $0.04 in 2019, $0.16 in 2020 and have reached $1.71 this year.
However, despite all the briefing, the Cardano native token has gone down by 16% during the last 24 hours. Cowen claims that this is not the first time that the people working against ADA have tried to create an artificial FUD around the PoS consensus digital token.