Cardano (ADA) has been added to the popular U.S. brokerage platform Robinhood for use by its users. Beginning today, users will be able to trade the cryptocurrency and get exposure to its spot price.
The release claims that Cardano was added to Robinhood due to demand. The cryptocurrency has long been a consumer favorite and cracked the top 10 by market capitalization of all cryptocurrencies.
Following the prevailing market trend, the price of ADA is currently trading at $0.44 and has lost 2% over the past day and week, respectively. The Robinhood announcement is a significant turning point for ADA since it may increase the rate of adoption in the US.
Cardano (ADA) has fluctuated in value during the last few months, from third to ninth most valuable cryptocurrency worldwide. The price of ADA was trading above $3 at its peak, but since late 2021, it has been drifting downward along with the rest of the market.
Additionally, the long-awaited Vasil hard fork could launch in September if Cardano developer IOHK can get “three critical mass indications,” according to their statement. Vasil wants to use pipelining to increase Cardano’s scalability and transaction throughput.
The Plutus script, a programming language used for smart contracts on the Cardano blockchain, could be changed as part of the upgrade to enhance the decentralized application (DApp) and smart contract capabilities.
The announcement has not yet prompted a response from the crypto, which is still trading in the red relative to other significant cryptocurrencies. Current macro issues have a significant impact on the cryptocurrency market, which could act as a short-term roadblock for any prospective Cardano gain.