Popular U.S. brokerage platform, Robinhood (NASDAQ:HOOD), 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 the 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:
This week, we’re well on our way to hitting our indicators. Over 80% of SPOs have upgraded and more than 70% of the top DApps we’re tracking have confirmed successful pre-production testing.4/8— Input Output (@InputOutputHK) August 31, 2022
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