- Staking for both assets will be disabled.
- The exchange is working on an eToro Money crypto wallet.
Due to regulatory concerns, eToro announced that it would withdraw Cardano and Tron from its US platform before the end of the year. Users may still withdraw ADA and TRX. Starting December 26, eToro will delist Cardano and Tron for US users. No new ADA or TRX position may be created for users in the region.
From December 31, staking for both assets will be disabled. eToro said the decision was taken owing to commercial reasons about the two cryptocurrencies’ regulatory environments. Existing Cardano and Tron holdings held by US clients may be closed at any time. eToro has no intentions to force sell. Trading in ADA or TRX will be converted to open positions in individuals’ portfolios, where they may choose to keep or sell.
Wallets will be restricted to withdrawing only until Q1 2022. Unlike XRP, which is now embroiled in a legal battle with the US Securities and Exchange Commission, ADA and TRX have not been linked to regulatory problems in the US.
eToro Money Crypto Wallet
The social-trading platform explained that users may still cancel current ADA and TRX positions and earn US dollars. The exchange is working on an eToro Money crypto wallet that will support both cryptocurrencies early next year.
Cardano pricing just lost a substantial footing, putting ADA in danger of falling under $1.26. As the token cut below the bottom border of the dominant chart pattern, the falling parallel channel predicts a 25% drop.
The Ethereum killer’s first line of defence is $1.70. Then the June 15 high of $1.61. Further support will be found at the July 4 high of $1.49, then at the MRI support line of $1.26. Which coincides with the bearish goal. To test support at the bottom border of the ruling technical pattern at $1.73, the bulls must first target the October 27 low at $1.80.
The post has appeared first on thenewscrypto.com