Cardano Price Predictions: What Does the Delisting of Robinhood Mean for ADA?
Despite the announcement of the reduced backing, ADA is on the rise.
- The future value of Cardano (ADA-USD) is a hot issue among crypto traders right now.
- The exchange Robinhood (HOOD) has discontinued trading in the coin.
- The platform will no longer provide ADA support as of June 27.
The announcement that Robinhood (NASDAQ:HOOD) is no longer trading Cardano (ADA-USD) has sparked widespread interest among cryptocurrency enthusiasts.
Robinhood has announced that it will stop facilitating the purchase and sale of some cryptocurrencies, including Cardano. Polygon (MATIC-USD) and Solana (SOL-USD) are two more cryptocurrencies that could be impacted by this development.
When June 27 rolls around, Cardano users will see that the exchange no longer supports these three cryptocurrencies. Since Robinhood is one of the top cryptocurrency exchanges in the United States, this is bad news for ADA and the other cryptocurrencies. Because of this, fewer people will be able to use it, and it will be harder for them to use.
Some investors in cryptocurrencies are also questioning how this would affect the price of ADA. Let’s take a peek at the most recent forecasts and dive in.
Cardano Price Predictions
- As a baseline, DigitalCoinPrice places ADA at 66 cents in 2024.
- Next, we have GovCapital, which predicts that the price of the coin will be $1.29 in a year.
- CoinPedia concludes with a 2024 average price forecast for Cardano of 83 cents.
The implications for ADA are unclear. Despite Robinhood’s withdrawal of support, industry insiders remain bullish on the cryptocurrency’s continued appreciation over the coming year. As of Monday afternoon, the value of this cryptocurrency was approximately 28 cents. That followed a 4.9% gain in the previous trading day.
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