Cardano (ADA) Prints Dramatic 8% Growth: Reason - ELEVENEWS

In a very dramatic twist, Cardano (ADA) has started this current week on a very bullish note despite the current uncertainty surrounding its future in the United States. At the time of writing, ADA coin is changing hands 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 (SEC) 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 (SOL) and Polygon (MATIC) later this month on account of the unclear regulatory clouds over the coins.

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