Cardano Founder Welcomes As ADA Not Being Listed On Gemini

Cardano founder Charles Hoskinson has spoken out against ADA not being listed on the Gemini cryptocurrency market. Whereas such an exchange not listing a high-ranking digital asset as ADA would normally garner criticism, Hoskinson seemed to embrace it.

Gemini is one of the larger exchanges that does not currently support Cardano trading on its platform. The exchange, which now accepts more than 110 currencies, the bulk of which have a smaller market cap than Cardano, has been slow to add ADA, but founder Charles Hoskinson is not concerned.

Hoskinson informed that the digital asset was not listed on the Gemini cryptocurrency market. Recalling the difficulty that Gemini ran with its Earn program when Genesis Digital Trading halted withdrawals and was rumored to be on the verge of bankruptcy. In turn, Gemini had to halt its Earn program, and Genesis is said to owe the exchange $900 million in user assets.

Hoskinson compares this to FTX, which did not include ADA for trade as well. FTX planned to launch the cryptocurrency approximately a month before it went bankrupt, thus no ADA coins were lost when the exchange declared bankruptcy.

We are still not listed on Gemini,” Hoskinson stated. “Turns out that’s probably a good thing cause FTX didn’t list us either.

Despite being viewed as an afterthought by a number of prominent exchanges in the past, Cardano remains one of the market’s most powerful cryptocurrencies. With a market valuation of more than $9 billion, it is now the ninth-largest cryptocurrency, despite the token losing a significant portion of its value.

ADA reached an all-time high price of $3.10 in 2021, but it has since lost more than 91% of its worth. As a result, it is one of the top losers among the top ten cryptocurrencies by market capitalization. The price is presently consolidating between $0.24 and $0.26, with no hint of a breakthrough on the horizon.

ADA is trading at $0.265 at the time of this writing. It is up 4.53% in the last 7 days and 2.13% in the last 24 hours.

There is still significant resistance at the $0.0265 level, where bears took their stronghold during Friday’s rise. To see gains before the end of the year, ADA must break and establish support above $0.265, else a poor finish is the most likely scenario.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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