Cardano (ADA) has achieved the impossible by being ranked seventh on coinmarketcap and in terms of market capitalization. The small coin that packs a punch, has risen to that rank with only 31 listings globally. This means you can only get ADA in these 31 exchanges.
Now let us compare these 31 listings with those of the other six coins ahead of ADA.
Bitcoin (BTC) is listed in 400 exchanges. ADA’s number is 7.75% of BTC’s listings. Ethereum (ETH) is also listed on 400 exchanges and ADA’s listings are also 7.75% of this number. Ripple (XRP) is listed in 146 exchanges. This number is 470% greater than the listings of Cardano. When we look at Bitcoin Cash (BCH), the coin is listed in 258 exchanges. This figure is 8.32 times greater than the listings of ADA.
EOS is listed in 140 exchanges. This number is 4.5 times that of ADA listings. When we look at Litecoin (LTC), the coin is listed in 400 exchanges: a similar number to that of BTC and ETH. This figure is also almost 13 times greater than the number of ADA listings.
Therefore, it is safe to conclude that if the liquidity of ADA were to be increased through the additions of listings in other exchanges, the coin will simply obliterate the competition. Liquidity is defined as the degree to which an asset or security can be quickly bought or sold in the market without affecting the asset’s price.
In our case, we want the liquidity to affect the price of ADA in the upward direction through increased buying and selling facilitated by an increased availability of ADA in the numerous exchanges. This will enhance its visibility and result in more curiosity by traders and crypto enthusiasts. Cardano already has a solid product that is under development and will surely cause tremors in the crypto-verse once decentralization is fully implemented.
Market analysis shows that Cardano (ADA) is the only coin – at the moment of writing this – that is showing some gains in a bearish market. ADA is up 3.40% in 24 hours and is currently trading at $0.188. The rest of the major coins are in the red and led by an ever-weakening Bitcoin (BTC). The King of Crypto is now trading at $7,166 and is likely headed for more choppy waters as we approach the weekend.
Some analysts have predicted that it will get worse before it gets better with BTC bottoming out at $5,700. What we can do till then is to either HODL, cash out in a panic or do what the bold ones do: buy in when there is chaos in the markets.
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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.
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