Why Is Cardano (ADA) Losing Value?

Cardano, one of the most popular cryptocurrencies of 2021, started to fall. So why is Cardano (ADA) losing value?

Cardano (ADA) began to decline after Israel-based trading platform eToro announced that it would delist Cardano for users in the US by the end of the year. In a recent statement from the eToro front, it was announced that both ADA and TRX would be discontinued for users in the US due to regulatory concerns. The statement made by eToro was as follows: "American users will not be able to open new ADA or TRX positions as of December 26, 2021. Additionally, staking for these assets will end on December 31, 2021. These changes are due to business considerations in the evolving regulatory environment." After the aforementioned announcement, the ADA price dropped by 10%. According to CoinMarketCap data, Cardano, which experienced a 10% decline, fell to $ 1.56. With this drop, Cardano (ADA) has moved away from its ATH (high) by 50%. On the other hand, crypto analyst Michaël van de Poppe believes that ADA will continue its decline with the majority of the market. Michaël van de Poppe says: “I predict ADA will drop a little more before starting a new rally. Technically, most cryptocurrencies are at this point.” Cardano's founder, Charles Hoskinson, shared the following statement on his Twitter account after eToro's move to delist ADA: "We're not even delisted. ADA is still on eToro, and non-US customers can buy and sell [it] freely."