Bloomberg Terminal Adds Cardano To List Of Supported Assets

Bloomberg Terminal has just added Cardano’s ADA to its list of supported apps and exposed it to hundreds of thousands of institutional investors but what does this mean for ADA? Let’s find out in our latest Cardano ADA news.

While some scrutinized the cryptocurrency and the lack of working products, the move will prove to be quite bullish. While Cardano had quite an eventful year, it seems that ADA will soar even more in the months to come. The reason behind this is not the update planned for the protocol but the rise in the interest from major investors in traditional finance and the crypto space as well. The rising interest became evident after Bloomberg Terminal adds the coin to its list of supported tools. This tool is integral for the global finance industry and it can access, compile and analyze financial information.
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With the costs ranging from $20K to $40K per month, the Terminal is reserved for the biggest industry players.

Adding Cardano to the list of supported assets shown before these investors were seen by the community as a huge step towards securing the place on the network on the market. The addition of ADA to the terminal was immediately followed by a piece of Bloomberg where the news outlied outlined both advancements that were made by the protocol and the criticism that it got from industry experts. According to the article, Cardano was able to maintain its upward movement and to resist major correction which plagued the markets. However, Bloomberg noted that the hype isn’t all too clear as the blockchain will receive an upgrade soon.

Bloomberg noted that investors will rush to buy Cardano despite the lack of applications and the users with the promise of a better, cheaper, and faster platform than Ethereum. Hoskinson backed this up by saying that over 100 companies are looking to move to Cardano from Ethereum:

 “My goal is to run countries on this blockchain. I don’t care about Uniswap and CryptoKitties and other things. It’s a bubble, and it comes and it goes, like Pet Rocks and Beanie Babies.”

While he mentioned that he doesn’t know why the ADA price surged in the previous weeks, the addition to Bloomberg will surely give it more publicity. With the blockchains set to unlock this functionality in the next few months, could be the new spark that will light ADA on fire and bring more growth.