Robinhood Announces Cardano (ADA) Listing Ahead of the Vasil Upgrade

Popular U.S. brokerage platform, Robinhood, has announced the listing of Cardano (ADA) on its platform as the environmentally friendly proof-of-stake (PoS) chain prepares for its all-important Vasil upgrade.

Cardano’s (ADA) Listed in Robinhood 

On September 1, Robinhood announced that Cardano (ADA) has now been listed on its platform. On the same day, Robinhood users were able to trade the ADA and gain exposure to its spot price.

According to Robinhood, ADA was listed on the platform due to popular demand. ADA has been a retail favourite for years and is ranked as the eighth largest crypto, with a value of $0.45 and a $15.6 billion market cap.

Cardano Draws Close to Vasil Upgrade

The listing on Robinhood comes as Cardano prepares for its highly-anticipated Vasil upgrade. Initially scheduled in July, the mainnet upgrade was delayed to fix bugs and ensure the roll-out of a stable upgrade.

However, in a Wednesday update, Input Output Global (IOG), the development team behind Cardano, announced that the team is close to reaching all 3 metrics used to judge the community’s readiness for the upgrade.

According to IOG, over 80% of SPOs have upgraded and more than 70% of the top DApps have upgraded their nodes. The IOG also notes that it is working with exchanges on updating their nodes in preparation for the upgrade. IOG tweeted:

On the Flipside

  • The IOG has released new test versions of the Daedalus wallet in what it calls “the final mile” toward the Vasil upgrade.

Why You Should Care

Joining Robinhood could be a big boost for Cardano (ADA) as the brokerage platform lists only a select few cryptocurrencies.

Binance has also launched ADA staking. Read below: 

Binance.US Launches Cardano (ADA) Staking Ahead of Vasil Upgrade

Get more information on lending and borrowing on Cardano in:

Aada Finance Launches the First Lending and Borrowing App on Cardano Mainnet

To get the Vasil upgrade timeline, read:

Cardano (ADA) Founder, Charles Hoskinson, Releases New Timeline for Vasil Upgrade Release

This article is for information purposes only and should not be considered trading or investment advice. Nothing herein shall be construed to be financial legal or tax advice. Trading Forex, cryptocurrencies, and CFDs poses a considerable risk of loss

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Author

Milko is a DailyCoin reporter, mainly focused on Ethereum (ETH), Cardano (ADA), and their founders (Vitalik Buterin and Charles Hoskinson). Milko is an avid follower of crypto and blockchain technology and has written thousands of articles on the subjects. He finds joy in transforming complex issues into written content that anyone can understand. Milko has used and analyzed numerous exchanges, such as Coinbase, FTX, and Binance. He also closely follows all of the latest news around the largest decentralized exchanges (DEXs).