Cardano Price Crashed Because of eToro?
On Noc 24, 2021, the eToro exchange announced that it would unlist Cardano and Tron from the eToro exchange, since this announcement the price of Cardano has dropped by 9% to its lowest level of $1.59. The eToro exchange also revealed that it will prohibit users from buying cryptocurrencies or getting gifts from them. According to eToro, the decision was solely for reasons related to business and the good of the ecosystem. For the convenience of ADA and TRX hodlers, eToro states that eToro users in the United States can still sell their assets in exchange for dollars at any time. Meanwhile, eTore also announced the company's plans to create a crypto wallet version of eToro Money, which will be launched in 2022. This crypto wallet will later be designed to be asset compatible, so that users can move their holdings there easily and conveniently.
I started looking into eToro because of its commercials. I saw an ad that showed they allowed “copy cat trading” for newbie investors. In other words, if you are a newbie investor, you can pick a skilled investor and just copy their trades. Since the skilled investor is good at it, when they earn, you earn too; and you are not even doing the trading work. The skilled investor is doing all the analyzing and buying and selliing. But you are reaping thee benfits of their labor. It sounds too good to be true. However, my son says it's a common practice.
In signed up on eToro a long time ago, but I never used it because of funding issue. Since then I never checked eToro platform. If ADA fell down because of eToro, I believe ADA will rise again, In fact it is already rising. I believe ADA is one of the few currencies that will grow very big in near future. I have some investment in ADA. But I am till at loss.