Great news for cryptocurrency traders and investors! eToro, a well-known online trading and investing platform, has announced a significant development concerning the popular digital asset, Cardano (ADA). After being unavailable for U.S. users since 2021, ADA is making a return to the eToro U.S. platform.
Why Did eToro Relist Cardano (ADA)?
In a press release dated May 28, eToro confirmed the relisting of Cardano (ADA) for users across most of its U.S. operational areas. This move reverses the platform’s decision from 2021, which saw ADA delisted due to evolving regulatory considerations at the time. The relisting suggests increased clarity or confidence regarding the asset’s status, allowing more investors to access Cardano.
The return of ADA is a notable event for the community and for eToro users who previously traded the asset. It expands the range of available digital assets and responds to potential user demand. While the exact reasons for the initial delisting and subsequent relisting aren’t detailed in the announcement beyond general platform updates, the change is a positive signal for Cardano accessibility on a major platform like eToro.
Where Can You Trade Cardano (ADA) on eToro?
While the relisting is broad, it’s important to note that trading Cardano (ADA) on eToro is not available in all U.S. locations. The platform’s announcement explicitly states that users residing in the following areas are currently unable to trade ADA:
- Hawaii
- New York
- Nevada
- Puerto Rico
- U.S. Virgin Islands
If you are located outside these restricted regions, you should now be able to find and trade Cardano on the eToro U.S. platform.
What Other Crypto Assets Were Added?
The relisting of Cardano (ADA) wasn’t the only update from eToro. The platform also expanded its offering by adding 11 other crypto assets to its U.S. platform. This significant expansion provides users with a wider variety of digital currencies to trade and invest in. The newly added assets include:
- Aave (AAVE)
- Chainlink (LINK)
- Compound (COMP)
- Dogecoin (DOGE)
- Ethereum Classic (ETC)
- Litecoin (LTC)
- Ripple (XRP)
- Stellar (XLM)
- Shiba Inu (SHIB)
- Uniswap (UNI)
- Yearn Finance (YFI)
This brings a diverse mix of established and popular altcoins to the platform, catering to different investment strategies within the crypto market. The inclusion of these assets alongside Cardano strengthens eToro‘s position as a platform offering access to a broad range of cryptocurrencies.
What Does This Relisting Mean for ADA and eToro Users?
For existing and potential eToro users, the relisting of Cardano means more options for portfolio diversification. For the Cardano ecosystem, being available on a platform like eToro potentially increases its visibility and accessibility to a large user base, which could positively impact trading volume and liquidity. It marks a reversal of a previous restrictive action, suggesting positive momentum for ADA‘s availability on major trading platforms.
In summary, eToro‘s decision to relist Cardano (ADA) is a key development for the crypto market, expanding trading opportunities for U.S. investors outside specific restricted states. Coupled with the addition of 11 other assets, this update significantly enhances the cryptocurrency offerings available on the eToro platform.
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