The price of Cardano (ADA) crashed on Tuesday night, falling from $1.80 to $1.67.
The coin lost 7 per cent of its value in a matter of hours, though has since recovered slightly, climbing back to $1.74 by Thursday afternoon.
Cardano reached its record high of almost $3 back in September.
Tuesday’s crash is likely down to trading platform eToro announcing it will delist the coin by the end of the year in the United States due to regulatory concerns. It is also delisting Tron (TRX).
Users will still be able to close existing positions, but will not be able to open new ones.
The platform said: “US users will not be able to open new ADA or TRX positions starting on 26 December 2021. Additionally, staking for those assets will end on 31 December 31 2021.
“These changes are due to business-related considerations in the evolving regulatory environment.”
What is Cardano?
Cardano was launched in 2017 and is a third generation blockchain, with Bitcoin and Ethereum being first and second generations respectively. Its token is known as ADA.
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