Cardano (ADA) Could Surpass the Competition with More Listings on Exchanges
Cardano is currently ranked the seventh crypto on CoinMarketCap concerning market cap. The coin is currently listed on 21 exchange platforms all over the world, and this means that you can get it from 31 exchanges only.
If we compare these listings to the ones of the cryptos that are positioned ahead of Cardano, things get pretty impressive.
Cardano’s listings vs. the first six cryptos
Bitcoin (BTC) and Ethereum (ETH) are listed on 400 exchanges. Ripple is listed on 146 exchange platforms, Bitcoin Cash (BCH) is listed on 258 exchanges, EOS, on 140 platforms and Litecoin (LTC) is listed on 400 exchanges. All these numbers are enormous compared to Cardano’s 31 listings. This makes it safe to conclude that if the liquidity of ADA were to be enhanced via the addition of more listings in other exchanges, this coin would totally kill its competition. Liquidity is defined as the degree to which a security or an asset can be quickly bought/sold in the market without the deal affecting the coin’s price.
To make the liquidity affect ADA’s price upwards, this can be achieved via the enhanced availability of the coin, and this could result from more listings on more exchange platforms. Cardano is already proud to have a robust product that is still in the works, and it will undoubtedly attract a lot of attention in the crypto space once decentralization is implemented completely.
Cardano resists in a bearish market
The analysis shows that for the moment Cardano is the only coin showing some resistance in a bearish market. It’s currently trading at $0.206471 on CoinMarketCap with a market cap of $5,353,188,181.
Experts and analysts have predicted that it gets worse before it gets better with BTC hitting bottom at $5,700. Holders can stay put these days, cash out or buy while there’s still chaos throughout the crypto market.
CoinMarketCap is a website that provides cryptocurrency market cap rankings, charts, and more. It was purchased by Binance for $400M in 2020.
Eduard Watson Author
An experienced finance writer for more than 10 years, active industry watcher, and gadget enthusiast.