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$ADA: Crypto Capital Venture Founder Says Too Much Focus on eToro, Not Enough on Bitstamp

$ADA: Crypto Capital Venture Founder Says Too Much Focus on eToro, Not Enough on Bitstamp


The founder of Crypto Capital Venture, Dan Gambardello, has criticized the cryptocurrency community’s focus on Cardano ($ADA) getting delisted from the popular exchange eToro in the U.S., instead of focusing on its listing on Bitstamp.

On Twitter, Gambardello noted that crypto investors were focusing on the negative side of things as eToro has a trading volume of around $67 million a day, while Bitstamp is Europe’s largest cryptocurrency trading platform with a daily trading volume of over $500 million on average.

As CryptoGlobe reported, eToro recently announced on its website that due to regulatory concerns it would be “limiting ADA and TRX” for users based in the U.S. and that these users would “no longer be able to open new positions in, or receive staking rewards for, Cardano (ADA) and TRON (TRX)” but would be “able to close existing positions.”

Cardano’s Charles Hoskinson has commented on eToro’s move, saying that neither the Cardano Foundation nor Input Output Hong Kong (IOHK) had been contacted by any financial regulators about $ADA. Hoskinson added that although it’s unfortunate eToro felt it had to delist the token from its platform in the U.S., the move will have no meaningful impact on $ADA’s liquidity as it did not handle a large trading volume.

Meanwhile Bitstamp, one of the world’s longest-running cryptocurrency exchanges and Europe’s largest exchange by trading volume, announced it is listing ADA.

In a blog post, Bitstamp noted that Cardano is a platform that offers “tools and tech to innovators and visionaries to help them, as Cardano themselves say, to ‘redistribute power from unaccountable structures to the margins to individuals’. 




Notably, the number of Cardano ($ADA) addresses staking the cryptocurrency has grown by over 100,000 in just two months as more investors are betting on the cryptocurrency and its ecosystem. Data shows there are $54.07 billion worth of the cryptocurrency staked across 2,931 active pools, representing over 72% of the ADA’s supply.

Earlier this year the price of ADA exploded ahead of the rollout of the widely anticipated Alonzo hard fork, which brings smart contracts into the network and allows it to compete with the Binance Smart Chain (BSC), Ethereum (ETH), and Solana ($SOL).

DISCLAIMER

The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, or other advice. Investing in or trading cryptoassets comes with a risk of financial loss.

IMAGE CREDIT

Featured image via Unsplash





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