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Cardano in the Red Despite Bitstamp Listing

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Wed, 11/24/2021 - 14:46
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Alex Dovbnya
The Bitstamp listing did not make up for the eToro delisting, which sparked concerns about possible regulatory woes
Cardano in the Red Despite Bitstamp Listing
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Cardano, one of the top cryptocurrencies by market capitalization, has launched on the Bitstamp exchange.

Traders are now able to place limit orders, the exchange announced Wednesday. Transfers were enabled earlier today.

The Luxemburg-based exchange initially announced the listing on Nov. 18.

Despite the Bitstamp news, Cardano is under heavy selling pressure, shedding more than 7% since the start of the day.

CARDANO
Image by tradingview.com

At press time, it is the biggest laggard within the top 10. Meme cryptocurrency Dogecoin comes in second place with a 5% drop.

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On Sept. 23, Israeli brokerage firm eToro announced that it would prohibit Cardano and Tron trading for its U.S.-based users on Nov. 23.

This prompted speculation about these two cryptocurrencies potentially facing regulatory scrutiny.

Input Output CEO Charles Hoskinson attributed the delisting to the lack of regulatory clarity in the States in his recent tweet.

At the beginning of the year, virtually all major exchanges moved to suspend XRP trading in the U.S. after the U.S. Securities and Exchange Commission sued Ripple.

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.