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Cardano (ADA) is now on Robinhood

The advent of ADA trading on Robinhood expands Cardano’s user base to over 20 million.
| CryptoPress

Before Cardano’s forthcoming “Vasil” release, the popular financial services site Robinhood adds ADA to its trading listing. Consequently, Robinhood’s over 22 million members may now access their ADA accounts and trade, sell, or hold the cryptocurrency on the platform.

The company introduced the new trading option through Twitter on Thursday, and it is already available to users. According to Robinhood, the integration of $ADA (Cardano’s native cryptocurrency) is directly attributable to customer demand. Cardano is now accessible on Robinhood, per your request.

Robinhood is a renowned trading application headquartered in California, United States, that allows regular traders to invest in stocks and other traditional financial instruments in the United States. The website, which added Bitcoin functionality in 2018, now enables users to purchase and trade more cryptocurrencies.

No price response

In recent months, Robinhood has attempted to expand its trading listing despite the weak cryptocurrency market. In July, the Uniswap (UNI) coin was made tradable on the platform. This follows the site’s April announcement that Shiba Inu (SHIB), Solana (SOL), Polygon (MATIC), and Compound (COMP) would be supported.

Immediately after the announcement, the prices of a number of newly introduced cryptocurrencies rose. Several cryptocurrencies saw growth at the time, including SHIB (a dog memecoin) and COMP (a computer-related cryptocurrency).

In light of the recent market decline, it seems that ADA investors are less optimistic than normal about Robinhood’s incorporation of the cryptocurrency. The value of ADA has declined somewhat since yesterday, and it is now trading at about $0.45 USD.

“Vasil” update

Cardano’s launching on Robinhood coincides with the long-anticipated “Vasil” update. After updating the YoloNet test network successfully last week, the project is now well on its way to Vasil. We finally made headway after a few difficulties with the previous Cardano Node version.

The upgrade will occur in September, given the fulfillment of certain requirements.

This week, the Input-Output (IOG) development team announced on Twitter that the majority of Cardano staking pool operators had updated to the final version of the node, a need before Vasil can be deployed on the Cardano main network (SPOs).

Eighty percent or more of SPOs have been updated, and the success of pre-production testing has been confirmed for seventy percent or more of the primary DApps we are monitoring.

In the last node release, 75% of the primary grid blocks have been constructed, according to the tweet. The founder of Cardano also said that bitcoin exchanges are partnering with it to adopt the platform. IOG reports that at least 27 exchanges are now integrating, including five of the world’s most liquid exchanges.

Vasil is a notable development that is widely anticipated to enhance Cardano’s scalability. It will pave the path for the project to join the “Basho” age, which is defined by “optimization, improved scalability, and network interoperability.”

Photo: Andrew Neel.

© 2022 Cryptopress. For informational purposes only, not offered as advice of any kind.

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