Cardano Climbs, Coinbase Impresses With Q2 Results, Robinhood Wants Traders To HOLD

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Last Updated on 13 August 2021 by CryptoTips.eu

Jeroen Kok

Jeroen is one of the lead copywriters on Cryptotips.eu and discusses all recent events in the crypto market. This includes news updates, but also price analyzes and more. He developed his passion for cryptocurrency during the bull run in 2017. He has learned a lot since then. The combination of cryptocurrency and creative writing is perfect for Jeroen and an excellent way to share his knowledge with a wide audience. Find me on LinkedIn / jeroen@cryptotips.eu
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Bitcoin is trading around $46k this morning at the time of writing while Ethereum is holding on to the $3,200 mark. It will be interesting to see whether the coming weekend will be marked by profit taking or a further rise.

A coin that has had a stellar week so far is Cardano, up 40% in the past seven days. The Charles Hoskinson invention is seeing renewed interest from Wall Street as investors acknowledge that Input Output HongKong has really put a good business plan forward. Can Cardano finally compete with Ethereum? It will be an interesting few months until the end of the year.

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Coinbase adds users

There are only a few shares which show the state of the world of crypto. They are generally accepted to be Marathon Digital and Riot Blockchain when it comes to Bitcoin miners, Coinbase and Robinhood when it comes to traders. Of course, this only concerns the US. Globally speaking, nothing is as big as Binance.

Be that as it may, there is a long way to go before Binance is accepted by Wall Street as the global crypto behemoth that the cryptosphere knows it is. Therefore, when Wall Street wants to assess the health of the world of cryptocoins, it checks what Coinbase is doing.

The Brian Armstrong company was able to add 12 million new users even though crypto prices fell in Q2. As you know, Bitcoin descended from an all-time-high of around $63,000 to some $29,000 over the period, and has since rebounded to $46,000. Given that it is trading no higher than $20,000 until 2021, still highly impressive figures for Satoshi Nakamoto’s invention though.

Trading volumes furthermore showed that more customers bought Ethereum than Bitcoin, which is an interesting development to say the least.

Meanwhile on the other end of the spectrum, Robinhood is trying to get traders to HOLD. The highly popular trading app is being plagued by an image of being a gambling joint and is desperately trying to convince traders to HOLD their cryptocoins and wait for the long term instead.

So far, no luck though.