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- 1 Cardano founder has finally opened up about the delisting of ADA from Robinhood.
- 2 The U.S. brokerage firm, Robinhood, recently ended its support for ADA along with two other cryptocurrencies.
Cardano founder, Charles Hoskinson shared his response as Robinhood announced the delisting of Cardano’s native token, ADA. Notably, the reason for delisting ADA from the trading platform of Robinhood is still not disclosed from the officials. However, the recent decisions by the Securities and Exchange Commision (SEC) against the crypto companies may be a reason, which is also not cited by any of the officials.
Cardano Founder’s Reaction on Delisting ADA
As per the report from Fox Business, Hoskinson didn’t seem too surprised by this decision of the U.S. brokerage firm. As per his saying, “It’s not surprising that when there is a lack of clarity, contradictory guidance, and a culture of fear instead of collaboration with regulators that some entities will choose to simply start leaving markets entirely.”
🚨NEW: Cardano founder @IOHK_Charles tells @FoxBusiness in response to @RobinhoodApp delisting $ADA, $SOL and $MATIC: "It's not surprising that when there is a lack of clarity, contradictory guidance, and a culture of fear instead of collaboration with regulators that some… pic.twitter.com/D16XOaDIfn
— Eleanor Terrett (@EleanorTerrett) June 9, 2023
In addition, Hoskinson said “the legislative branch needs to lead by passing commonsense, consumer-oriented legislation to restore clarity and integrity to the U.S. crypto markets.” This is bringing the U.S. back to the global standards that are currently leaving the country behind, he further added.
“regardless, protocols are protocols, while all of it operates as intended along with millions of users all over the world.” By using the protocols, a new global financial operating system can be built that is “fair and equitable for the billions of unbanked people throughout the world,” Hoskinson added.
ADA Price Analysis
At press time, ADA is trading at the price of $0.249067 with a 24-hour trading volume of $1.20 Billion. ADA is down 21.61% in the last 24 hours, while its current market cap is noted at $8.69. In the last 24-hours, ADA marked low at $0.2304 while high was at $0.3218. Moreover, in recent 7-days the price dropped more than 30% which further shows nearly 59% of decline in one year of time period.
According to CoinMarketCap (CMC), the market cap of ADA also showed more than 20% of decline, however the 24-hour trading volume showed more than 300% of increase. Besides ADA, Solana (SOL) also showed a similar decline in the last 7 days, which at present, is trading at $14.63. In the last 24 hours, SOL noted a drop of more than 20%. Currently, the global cryptocurrency market is also showing a bearish trend as most of the cryptocurrencies including BTC, ETH, XRP, DOT, and DOGE are following downtrend.
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.
With a background in journalism, Ritika Sharma has worked with many reputed media firms focusing on general news such as politics and crime. She joined The Coin Republic as a reporter for crypto, and found a great passion for cryptocurrency, Web3, NFTs and other digital assets. She spends a lot of time researching and delving deeper into these concepts around the clock, and is a strong advocate for women in STEM.
