Cardano just got delisted from eToro, and many people are wondering is ardano dead. Unfortunately, it has been going down pretty consistently for the last two months. Ever since they released smart contracts, I know many people have been wondering why it’s been cut in half over the last couple of months while many other cryptos went up to the moon.
So we’re going to write about it here today talk about whether it is time to sell Cardano. Of course, I’m not a financial advisor; I’m not a crypto analyst, and you have to make your own decisions, but I’m going to tell you what I’m doing what I see as the risks and rewards of holding it.
Bitcoins up two and a half %, Ethereum’s up to seven %, BNB up eight %, and overall I think many people are feeling a little bit better about crypto than they were about a week ago. So when we saw Bitcoin around 55 000 but we still have Cardano down a little bit.
Now some general news from around the industry Odell Beckham is going to take his entire salary in Bitcoin, which is fantastic. So we see a lot of this news of different players getting paid bonuses or brand sponsorships in Bitcoin or crypto but not usually a full salary.I don’t know what Odell makes 10 20 million that is a significant amount in Bitcoin.
Some news about fun wire or fun where it’s a cloud platform for mobile they bought 24 million dollars with a Bitcoin they already held Bitcoin but as time goes on more companies like this will continue to purchase Bitcoin just making it drain even more from exchanges one other thing I thought was funny is the fact that we are in fear right now with Bitcoin at nearly fifty-seven thousand dollars.
It’s funny how things can change, right. We were at the same level of fear three months ago when Bitcoin was at 35 000, and now we’re in fear with it at 58000. it’s funny how things change to keep in mind that everything is relative in the crypto markets.
This is another cinema chain well similar to AMC. they have 7 000 screens and it’s funny because they just feel the pressure and I think a lot of other companies nations individuals will feel the pressure too to continue to adopt crypto more and more whether it’s for payments or buying it on their balance sheets it’s just another domino and it’s harder and harder to stop those dominoes once. they start falling now onto the main piece of news today eToro announced Cardano and Tron delisting now a lot of people were already upset with Cardano because the price has not been going up recently but I think this probably pisses people off, even more, they are they’re limiting access to this so now new positions on Cardano and Tron cannot occur you will be able to close out your positions it’s not like they’re just taking the crypto from you or anything but you will not be able to open new ones so you have to sell it for usd essentially now they said this is because of regulatory concerns now I’ve heard other exchanges that haven’t had Cardano listed that’s the reason that they haven’t listed them just because they’re worried about how the government’s going to react to Cardano.
I think that’s probably because of the Howie test and they’ve said before that Ethereum and Bitcoin are considered not securities because they actually have utility I i think that as time goes on Cardano will gain more and more utility but right now a lot of people do have it because they feel like it will go up in price a lot of people assume that it’s a security because of the investment in money and they have a reasonable expectation of profits they’re not buying it as a means of exchange because they think it will go up in price and part of that is because Cardano has not had a lot of utility up until this point but this is somewhat changing so this is coming from investor place talking about how Solana and Cardano could actually kind of take over Ethereum, in the long run, they say Cardano still remains a viable play in time more DeFi and d apps will flock to it.
It will become more widely used in turn it will enable us to see a gradual rise in price so I totally agree that we do see some NFTs happening on Cardano but fewer people know about them. They still are pretty popular though one recently sold for one million dollars a space bud. I think like I said this will continue to increase over time but Cardano is really focused on the long term Charles recently was kind of getting mad at people for being so short-minded short-term-focused he doesn’t care about the price he just says at five years 10 years 15 years 20 years we really feel there’s a strong possibility that Cardano could be the back end of many nation-states. So they are very big picture they’re not worried about the day-to-day price and from his point of view I totally get that because they’ve already what 50x this year and people are still complaining to him about the price.
I can understand why he’d get frustrated now one setback that’s kind of happened recently is Sunday swap did say that they had a dex and they said that they would bring this in a few weeks so this was on November 4. they said that in the in a few short weeks we’ll be able to show off what they’ve been building now they did have some news on this recently so this is again from November 4 it’s been almost three weeks now not two weeks like they said but they did pick their ISO stake pool operators so I think they are progressing forward it’s just a little bit slower than what people wanted now overall do I think Cardano’s dead. No, I don’t think it’s dead however it does have a lot of negative momentum right a lot of these other cryptos are doing well. Cardano’s trading sideways is trading down pretty much week in and week out. It’s going to be difficult for them to catch up to something like Solana or Ethereum but after they implement DiFi after they actually have a dex that’s working and there’s more and more value locked I could definitely see them moving up in price .
I think value on Cardano and I think it will go up in price you have to realize that this is a diversification play that is for the long term I don’t have all my money in Cardano when I think about it’s only about three to four % of my overall portfolio is in Cardano but I think that it’s a good diversification play. I really like Charles Hoskinson as a leader because he is long-term focused and he’s not worried about the price so he’s not trying to pump it up.
I’m still holding my position I’m not selling it I think that if you were looking at adding it now isn’t a terrible time because again they have a lot of potential. Of course, always do your own research as I said, tI can’t see the future definitely do your own research before make any investment.