The price of ADA, the native coin of the Cardano blockchain, was $1.60 today before settling at $1.69, down 11% from its weekly high, according to FTX exchange data.
Prices fell after crypto trading platform eToro restricted access to holders of TRON and ADA in the U.S.
eToro will not allow new purchases of ADA or TRX after December 25 due to “business-related considerations in the evolving regulatory environment.”
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The platform will also stop supporting ADA and TRX stakes on December 31.
The company says it will restrict the sale of ADA and TRX in early 2022. Users can keep their holdings or sell them.
The news contributes to ADA’s value declining by over 9% in the last 24 hours, mainly because eToro accounts for about 1% of ADA’s trading volume.
The market cap of TRX, which has a market capitalization of about $7 billion, is lower than that of ADA, which is $52 billion.
Nairametrics
