June 14, 2023
Robinhood delisted Cardano (ADA) due to the growing uncertainty of its future. As a result, many other cryptocurrenices also suffered a decline.
- The crypto industry faced a tumultuous week with regulatory actions affecting Binance and Coinbase, leading to increased market volatility and uncertainty.
- Cardano’s founder Charles Hoskinson denied the SEC’s claims and defended ADA’s status as a non-security.
Sebastian Purcell, the CEO of 1.2 Capital Management, a crypto hedge fund specializing in mid-cap coins and tokens like ADA suggests that the SEC issue has abated, but the outcome of the Ripple v. SEC lawsuit could be a catalyst for ADA’s price movement. Another expert, Frank Corva, said that predicting Cardano’s value is challenging due to regulatory uncertainties, and that Cardano’s price trend is expected to align with the overall crypto market trends. The current trading price for Cardano is at $0.2612. The 7D price has declined from $0.3236.
ADA 7-day price chart. Source: coinmarketcap
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