After launching UMA and API3, eToro now expands its ADA wallet to global clients in Italy, Spain, Switzerland, and the Philippines.
Created in 2015 by Ethereum co-founder Charles Hoskinson, Cardano is a decentralized public blockchain platform, with consensus using proof of stake. Cardano is able to facilitate peer-to-peer transactions with its internal cryptocurrency, ADA. To make it easier for Cardano fans, online broker eToro makes the $ADA wallet available to clients around the world, including Italy, Spain, Switzerland and the Philippines.
Earlier in May, eToro announced the addition of Universal Market Access (UMA) and API3 to its offerings. Universal Market Access (UMA) is an Ethereum-based protocol that allows users to build their own synthetic assets, tokens that track real-world asset values. UMA can also be used to vote on project decisions. While API3 is a decentralized application programming interface (API) platform. API3, the platform's native token, allows holders to participate in governance through the API3 DAO. The launch of UMA and API3 brings the total number of crypto assets on eToro to 64.
eToro Re-enables LUNA
The Israeli social trading network has also suspended trading of the cryptocurrency Terra (LUNA) due to a market-wide crash. The price of the Terra token, which ranks in the top 10, sank within a few days. The crash has shaken confidence in other stablecoins, leading to debate over the durability of decentralized systems. However, just days later, eToro said it would reactivate $LUNA on its platform but warned that liquidity for this asset was unstable. Therefore, it is possible that $LUNA may be deactivated again sometime in the future.