Cardano (ADA) will start trading on Bitstamp on Wednesday

Cardano (ADA) will make its debut on the top cryptocurrency exchange Bitstamp. Altcoins have not performed well recently, but it seems that the situation of the project is improving. After deploying smart contract functions on the network, people’s expectations for the possible growth of digital assets are getting higher and higher. Now, although the technology has met expectations, ADA has not.

After hitting a record high, the token suffered huge losses in the market. It turns out that it is resistant to the progress made on its underlying technology, and has not seen much positive progress since then. This new listing may be able to bring a much-needed recovery trend for digital assets.

Related Reading | eToro announces the delisting of Cardano (ADA) and Tron (TRX), pointing out regulatory issues

Cardano is listed on Bitstamp

Top cryptocurrency exchange Bitstamp Announce It is listing Cardano on its exchange. The listing is divided into four parts. The first is the transfer-only mode. The model was released on Tuesday, allowing users to use their Bitstamp wallet to access ADA, but still cannot trade digital assets.

Wednesday marked the complete listing of the token on the exchange. However, this will be divided into three parts, which will take effect at different times of the day.

ADA drops to $1.6 | Source: ADAUSD on TradingView.com

The second stage of listing is the post-only mode. In this mode, Bistamp users will be able to use digital assets to place and cancel limit orders, but these orders will not match. This means that no Cardano limit orders will be completed on the exchange during this period. This will take effect at 11:00 AM UTC time.

Next is the restricted mode, which goes online at 3:00 PM UTC. This time, all limit orders placed on cryptocurrency exchanges using ADA will be executed. But users will still be limited to trading through limit orders.

The final stage of listing is full trading. This is to give the order book enough time to collect enough liquidity. Once this is done, all orders will be executed normally, and Bitstamp will enable card purchases for newly released trading pairs.

ADA is struggling in the market

Compared with its counterparts in the market, Cardano (ADA) has performed much worse than other companies in recent weeks. However, this does not eliminate the fact that digital assets performed well year-on-year. The trading price of ADA at the beginning of the year was less than US$0.20, and this year it has risen to more than US$3, bringing huge benefits to its investors.

Related Reading | Cardano founder reiterated long-term goals in selling panic

Since then, asset prices have fallen below US$2, but listing on Bitstamp may give ADA some upward momentum, especially in eToro announces that it will officially delist Cardano (ADA) Starting from the exchange next month.

Featured image from Investing.com, chart from TradingView.com

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