Bloomberg has just added Cardano to the list of assets on Bloomberg’s trading terminal. This was made known by the BeinCrypto platform. Such addition will give ADA more exposure to investors in the crypto community. However, it seems Bloomberg only added the description and not the price data of the Cardano blockchain.
On Sunday, Bloomberg released a trending story of Cardano and ADA’s latest bullish momentum breaking its record levels. Now, the Cardano blockchain is undergoing a gradual upgrade. Reports have it that Bloomberg has included Cardano in Bloomberg Terminal, which is widely popular among expert investors and traders. Such a development will potentially lift the popularity of ADA in the crypto community.
Cardano Has Been Rising for the Past Few Months
Cardano blockchain is a peer-to-peer review network that utilizes ADA, its native currency. Earlier this week, Bloomberg published a report of ADA’s surge in price. The story was posted on Monday. But it is surprising that the following day, the token fell by more than 4% in a single day and 9% in one week and joined the list of other cryptocurrencies that fell heavily on that day.
Nevertheless, ADA has been growing continuously since the beginning of January, starting at just 18 cents but has now reached $1.02. The token, ADA, whose market cap stands at $32 billion, is rated among the top five cryptocurrencies based on market capitalization. This month, Mike Novogratz, the famous crypto investor, threw a question to his followers to know if their position on ADA.
He was eager to know if his followers had invested in it, the reasons behind its huge market capitalization, and whether the ADA token should be accepted ad an asset. He added that he had never invested in ADA. Meanwhile, Cardano is undergoing an upgrade which will be in five different phases. One of the phases, Goguen, is designed to enable Cardano lovers the chance to design and implement smart contracts via the Cardano platform. This will be out this year.
What Effect Will Cardano’s Inclusion in Bloomberg’s Platform Have?
The inclusion of Cardano to the Bloomberg Terminal will grant the blockchain and its ADA token the status of a recognized asset and promote it amid the large community of institutional investors. Although some analysts noted that Cardano has no functioning products that could propel it for a sustainable bullish run, it is worth noting that the development will be favorable to Cardano and its ADA token.
If the recent rise in the token price from just a few cents to $1.02 is anything to go by, then ADA is bound to rise considerably in the coming months. The growing interest in the token among influential institutional investors explains the reason for the positive projection. The increasing interest is now clear after the recent inclusion of Cardano in the Bloomberg Terminal– an important platform used by institutions to access, collect, and evaluate financial data.
The terminal costs between $20,000 and $40000 per month as it is reserved for the giants and big players in the financial markets. While explaining the reason behind the addition of Cardano to the terminal, Bloomberg noted that Cardano’s large media followers and the token’s ability to continue its bullish momentum despite the general fall of cryptocurrencies prompted the addition.