eToro, one of the most popular trading and investment platforms, announced yesterday the availability of Cardano (ADA) within their list of supported cryptocurrencies.
They announced such important decision via Twitter, a social network that brings them closer to their users’ community.
Thus, Cardano (ADA) would be the 11th crypto of all available for investment. The other options are Bitcoin, Ethereum, Litecoin, Ripple, Bch, Ethereum Classic, DASH, Stellar, NEO, and EOS.
Also, eToro also published an article explaining to the community the potential of the famous crypto, seeking to help each investor conduct their own research:
“Cardano is the latest cryptocurrency to be added to eToro’s selections. eToro clients can now trade and invest in ADA and add the crypto to their portfolios. As the blockchain revolution continues, it can be assumed that companies that present added value, such as Cardano’s blockchain development platform, will have a stronger foothold in the market. While some other cryptocurrencies could fall to the ebb and flow of supply and demand, Cardano’s strong, highly-regarded blockchain platform could be a driving force in maintaining its position as one of the world’s leading cryptocurrencies.”
The platform also highlighted some similarities between Cardano and Bitcoin, mostly to help non-tech-savvy investors learn more about the characteristics of this potential investment.
Cardano is a third generation blockchain, developed by a team of experts who were involved in previous blockchain developments such as Ethereum and Ethereum Classic.
Also, Cardano promises to solve the problems of older generation blockchains such as Bitcoin (BTC) and Ethereum (EHT), enabling scalability and interoperability solutions that are complex in other blockchains.
As a result of all of this exposed potential, after its launch in the final quarter of 2017, Cardano quickly reached the Top 10 in coinmarketcap, with a record valuation in the price of its token (ADA).
During June, Cardano (ADA) is suffering from a bearish behavior, with some oscillating charts, bouncing to the rise precisely in an area very close to its current price.
The announcement has not generated a disproportionate reaction (as it used to happen in 2017); however, a slight upward shift in the trend can be observed in 4-hour Heikin Ashi candles.
eToro’s announcement can be extremely useful to Cardano (ADA) as it would open the doors to investors who are generally not involved with crypto money.
Long-term effects cannot yet be predicted, but the outlook may be promising.