The price of Cardano (ADA) fell after a major cryptocurrency exchange announced that it would delist the cryptocurrency for US customers by the end of the year.
According to a statement from eToro, both ADA and Tron (TRX) will be removed for US customers due to regulatory concerns:
The announcement caused a 10% drop in the price of ADA. The coin fell from $1.80 to $1.61. Although the smart contract platform recovered up to 1.73 after that, it fell again in the last 24 hours. The cryptocurrency has slumped by about 10% in the last 24 hours. With this decrease, ADA has moved away from its ATH by 50%.
Popular crypto analyst Michaël van de Poppe believes that the token will fall further in the short term with the majority of the market.
https://twitter. com/CryptoMichNL/status/1463497095726444546
ADA creator Charles Hoskinson made the statement on Twitter to clarify that Cardano has not been completely removed from eToro, only to customers in the United States:
Cardano was trading at $1.53 at the time of writing.