Cardano(ADA) joins the list of tradeable currencies on eToro 15396
News
Sharat Chandra
Jun 19, 2018 at 12:34 AM

Cardano(ADA), with a market capitalization of approximately 4 billion, is the eighth most valuable cryptocurrency in the world. It was launched in 2017, is a blockchain platform created to run various applications such as smart contracts and decentralized applications. Created by Input Output Hong Kong(IOHK), former Ethereum co-founder Charles Hoskinson spearheaded Cardano's development.

Cardano(ADA) prices were on song at the beginning of the year. The cryptocurrency market witnessed the worst slump over past few months, and its prices too tanked. In 2017, Bitcoin prices were skyrocketing, but this year the downward spiral of prices hit Bitcoin too hard. Cryptocurrency watchers and enthusiasts grew skeptical about Bitcoin and cryptocurrencies related to Bitcoin. Due to slower transaction speed and higher costs, Bitcoin has been losing out to cryptocurrencies like Cardano which are armed with latest in technological developments.

Today, eToro, world's leading social trading network announced listing on Cardano on its platform. It will be available for trading on eToro alongside BTC, ETH, Bitcoin Cash, Ripple( XRP), Litecoin, Ethereum Classic, Dash, Stellar, NEO, and EOS. Last week, it was listed on Korean cryptocurrency exchange Bithumb along with Status Network Token(SNT).

Lars Brunjes, Cardano's Incentives Head, has been leading the task of distribution of Cardano as incentives. He has been working towards ensuring participation in the protocol so that it benefits the users and the network alike. He said," it is not just important to finish education but also do something and get your hands dirty, and that is why I am also heading the incentives work stream at Cardano.” In a technical conference, the proposal to distribute incentives at Cardano [ADA] was explicitly explained by him. He commented, “Incentives are to incentivize the people in the blockchain system to do the right thing and in our concrete case of Cardano that means we want a certain distribution of a stake.”

Cardano, a relatively younger cryptocurrency, has not been the most stable of the lot and has witnessed volatility in price movements. It is still the most discussed coin today. Within a year, it has managed to sneak into top ten cryptocurrencies is no mean feat. It managed to breach the dollar mark registering $1.32 on January 4, 2018. The future of Cardano seems promising at this point in time. Experts believe that it might touch the $10 mark in next five years.

Image via eToro Twitter Page

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