.Cardano back to winning ways with unprecedented price rebound
at a price of $0.2788, up by 8.2% over the past 24 hours in what now represents its best trading day in the trailing seven-day period.Cardano remains one of the few digital currencies that the U.S. Securities and Exchange Commission has flagged as an investment contract when Binance and Coinbase were sued last week. The news was devastating to the protocol and the community at large, but the current price resurgence is proof that the impact to the ecosystem is reducing.
The label of security that ADA received from the SEC has rippled through the crypto community and, if left uncontrolled, can spiral to reduced liquidity for the token on exchanges. As reported last week, Robinhood Markets Inc has announced its plans to delist Cardano, Solana and Polygon later this month on account of the unclear regulatory clouds over the coins.
Understanding that unity is one crucial factor to beat the SEC that has been cracking down on crypto innovations on account of their fundamentals, Hoskinson made a very surprising move over the weekend byWhile the move was met with mixed reactions, both the Cardano founder and XRP holders are willing to put their prior banter behind in the pursuit of a common goal.
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